Thursday 12th March 2009 |
Text too small? |
The only rate action, according to interest rate site Good Returns was from banks and mainly with floating rates. ANZ and National banks reduced their variable rates the full 50 points to 6.45%.
ANZ also introduced a new, three month rate of 5.65%. Meanwhile NBNZ has a six month fixed rate of 5.79%.
Westpac says it had already lowered its rates in expectation of todays announcement and warns that OCR falls have already been priced into the market.
It says it continues to review other rates but suggests fixed term mortgage rates have already built in the expectation of today's cuts so significant changes there are unlikely.
BNZs only changes were to rural and business lending. Of the smaller banks SBS and TSB made reductions.
Somewhat surprising Kiwibank hasnt made any announcement. Recently it has been the first lender to make changes after an announcement.
Of the major banks most floating rates are sitting just below the 6.50% market with the exception of BNZ and ASB, however ASB is expected to drop its floating rate to be in line with its competitors on Friday.
Amongst the smaller banks Kiwibank continues to have the lowest floating rate at 5.99%, TSB is next on 6.39% and SBS is on 6.45%.
No comments yet
PaySauce Quarterly Market Update - June 2024
Manawa Energy - Annual Meeting and Director Nominations
SKO - Annual Shareholders Meeting Materials
VGL - 2024 Half Year Results Announcement Date
TruScreen Group Limited ("TRU") - Late Annual Report
ARB - Sale of In Vitro Business
NZK - Change of External Auditor
SCT - Scott lands major contracts for MHL in Europe
July 2nd Morning Report
PFI - Details of FP24 Results Webcast