HSBC launched a home loan campaign today featuring the most competitive rates across the most common fixed terms currently available in the market. The new home loan rates on offer include a six-month fixed term rate which has been cut by 50 basis points to 4.99%. This is the lowest of all currently published rates including variable rates in the market. Click here for more on this story.
Housing New Zealand Corporation has cut its one-year rate by five basis points to 6.15% and it’s two and three-year rates by 10 basis points to 7.10% and 7.70% respectively. All the rates are now further below the medians for non-bank lenders of 6.38%, 7.25% and 7.85%.
Latest news from across the Tasman sees the Reserve Bank of Australia hike Australia’s cash rate 25 basis points yesterday, taking the gap between New Zealand and Australian official interest rates to their widest gap ever.
