There have been a number of interest rate movements today
this morning, mainly by banks.
Westpac has announced its Christchurch 'red zone' special, a variable rate of 3.65%. This has them following ANZ-National's lead, and now ASB is the only big bank not to have an offer like this.
NZ Home Loans has ended its Sovereign-special, raising back its one and two year fixed rates by 0.10% to 5.95% and 6.40% respectively.
TSB has announced a 'Special' one year fixed rate of 5.20%. The 'special' conditions that apply to this rate are that this offer applies to new owner occupied residential purchases or the refinancing of residential housing finance from other banks up to 65% of valuation. It is not available through brokers. The minimum loan amount is $150,000. Earlier, TSB raised its standard one year fixed mortgage rate to 5.75% from 5.50%. However, this still leaves it with the most competitive one year fixed rate for any bank, the next best being from Kiwibank at 5.80%. The best main-bank rate is 5.95%
Kiwibank has reduced its 5 and 6 month term deposit rates by 0.10% to 3.70% and 3.90% respectively.
TSB has also reduced term deposit rates for terms of 6 months and 1 year, which now become 4.25% and 4.55% respectively. They have added two new special-term rates; 160 days for 4.20% and 15 months for 4.40%.
(Updates with new TSB specials.)