ANZ and sister bank the National Bank have trimmed two to five year fixed mortgage rates by between 5 basis points and 15 basis points.
(Update adds National Bank cuts).
ANZ has cut its two-year rate by nine basis points to 6.70% from 6.79%, its three-year rate by five basis points to 7.15% from 7.20%, four-year by 15 basis points to 7.45% from 7.60%, and its five-year rate by five basis points to 7.70% from 7.75%.
The National Bank dropped its two-year rate by 6 basis points to 6.69% from 6.75%, three-year rate by 5 basis points to 7.10% from 7.15%, four-year rate by 10 basis points to 7.45% from 7.55% and five-year rate by 9 basis points to 7.70% from 7.79% .See all bank mortgage rates here.
10 Comments
Interest rates are collapsing,rents are going up up up and the housing shortage is almost a national crisis. It is very sad that you tenants were too poor to buy property while it was cheap but at least you have-nots have the privilege of making me and my mates very rich!
"The Kiwi love affair with property investment is over. New research shows a drastic decline in the number of people intending to buy real estate as a money-making strategy."
"The property market mirrors consumer confidence and confidence in the economy, which can't find its feet at the moment," Helm said(stuff.co)
"Roll up roll up and get your cheap loan.....hurry along folks we can't make this offer for long you know................."....bugger!
Listen!.........you can hear the tramp tramp tramp of feet as the tenants head for the departure gates. Say "bye bye" all you landlords...wave the flow of munny bye bye.
Don't you love that bit by Helm...."which can't find its feet".....haaaahahaha the feet are off to aus Mr Helm, the economy is down to the knees. That's what happens when you pretend you have real growth using a property bubble and cheap credit.
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"Forest Owners Association chief David Rhodes says Australia is also part of the problem. "Anyone who could drive big machinery, no matter what job they were doing, could go over there and get 50 per cent more."(herald)
And they're off...westward ho...off to collect 50% more pay and just a plane ride away....who can blame them...
Bet the PI landlords are spitting tacks when they read these comments in The Herald.....
Stock markets face a 'bloodbath', warns SocGen strategist Albert Edwards". It's going to be an interesting few months into the close of this year!"
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