Further interest rate tweaks have been made by a couple of non-bank lenders, with Credit Union Baywide dropping its two and three-year rates by 5 and 10 points respectively. General Finance and Cairns Lockie shaved one point of its two-year rates and cut its three-year rates by 5 points.
Housing NZ has added a splash of difference this week by increasing its floating rate by 25 basis points to 6.25%. It also made some larger cuts than the trend of the moment and cut its two-year rate by 25 points, its three-year rate went down by 15 points and its five-year rate dropped 5 points.
According to the lates Treasury analysis, household borrowing is falling faster than new investment in housing, suggesting New Zealanders are starting to get on top of rising debt level. Click here for more.
