It seems to be the one and two-year fixed home loan rates taking a hit this week. PSIS has now increased it rates for these terms by 10 basis points for it one-year term and 5 points for its two-year term. It did however drop its four-year rate by 10 basis points to 7.75%.
PSIS's four-year rate is the lowest offered on our table and its one and two-year rates are still well below the median rates for these terms.
SBS Bank has also increased its one-year rate this morning by 10 basis points to 5.90% and it has added 14 points on to its two-year rate which it increased yesterday by 15 points. Its two-year rate is now 6.89%. SBS's five-year rate went up by 6 points to 8.65% as well. SBS Bank's one and five-year rates are now the highest rates for the minor banks.
The National Bank has announced across-the-board fee removals and reductions, as part of a wide-ranging fees review. Click here to see the benefits it will bring to its customers.
