In this section
Offers for readers
Follow the news from interest
Finance sector jobs
Lead from the front utilising your strategic, technical and leadership qualities within th...more
New Zealand
Lead from the front utilising your technical expertise in this highly attractive senior li...more
New Zealand
Customer focus, high performance, exceeding client expectations and achieving profitable g...more
New Zealand
Key leadership position in the bank. Be a part of one of the fastest growing banks in New ...more
New Zealand
The news stream
Latest news
Most commented
- Fonterra to tighten TAF rules 67
- Govt eyes NZ$1.4b revenue grab 58
- English defends current account blowout 56
- 90 seconds at 9 am 51
- BNZ cuts most fixed mortgage rates 48
- 90 seconds at 9 am 43
- Thursday's Top 10 with NZ Mint 38
- Budget 2012 reactions 36
- Budget tax moves to target high income NZers 29
- Wednesday's Top 10 with NZ Mint 24
Most viewed
SBS raises fixed mortgage rates, including 6 mth up 20 bps to 5.8%
SBS Bank has raised most of its fixed mortgage rates by between 5 and 20 basis points (bps). See and compare all the rates here.
Banks in recent weeks have been reducing their variable mortgage rates while generally raising fixed mortgage rates, increasing incentives for borrowers to stay floating rather than moving to fixed. Longer term funding costs are rising for the banks as governments increase borrowing globally, while variable rates are more closely linked to official cash rates which look to be on hold at record low levels for the foreseeable future.
On the same day that Westpac lowered its six month mortgage rate by 20 bps to 5.29%, SBS raised its six month rate by 20 bps to 5.8%.
SBS also raised its two year rate by 5 bps to 6.6%; its three year rate by 5 bps to 7.5%; and its five year rate by 10 bps to 8.4%.
SBS left its one year mortgage rate at 5.8%.
The comment stream
Recent comments
See more
Editors choice