INDEPENDENT NEWS

Fixed Rates Continue Upward Movement

Published: Fri 13 Jul 2001 11:01 AM
July 12, 2001
Fixed mortgage interest rates continued to firm in the thirty days to July 10, while floating mortgage interest rates have stabilised, still ranging between 6.84 and 8.00 per cent, according to the Real Estate Institute of New Zealand.
National President of the Real Estate Institute, Mr Rex Hadley, said that in the month to July 10, the majority of the institutions surveyed had raised their longer term rates.
He said, “Fixed rates have firmed month by month since May. Having firmed by between 0.25 and 0.40 per cent in the month to June 10, fixed rates again raised by between 0.05 to 0.39 per cent across the board in the latest period.”
As of July 10, one year fixed rates range between 6.69 and 7.20 per cent, compared with 6.65 to 7.10 per cent to June 10; two year rates range between 7.20 and 7.70 per cent compared to 7.20 and 7.60 per cent last month; three year fixed rates have increased from a range of 7.30 to 7.90 per cent to a range of 7.50 to8.05, while four and five year rates range between 7.85 to 8.35 per cent, up from the 7.80 and 8.20 per cent recorded in the month to June 10.
-ENDS-

Next in Business, Science, and Tech

Counterfeit Banknotes - Businesses Urged To Be Aware
By: New Zealand Police
Kiwi Workers Reluctant To Make Business Trips Across The Ditch Despite Trans-Tasman Bubble Opening
By: Frog Recruitment
Tourism Employers Welcome Back Working Holidaymakers
By: Tourism Industry Aotearoa
Latest Broadband Report Confirms Improved Performance Of Premium Fibre Plans
By: Commerce Commission
Air New Zealand Celebrates Busiest Day Since COVID-19
By: Air New Zealand
Prices For Transport And Housing Rise In March 2021 Quarter
By: Statistics New Zealand
New Report Shows Impact Of Demands On Land In New Zealand
By: Statistics New Zealand
Government Report Shows Need For Urgent Protection Of Land For Food Production, HortNZ Says
By: Horticulture NZ
View as: DESKTOP | MOBILE © Scoop Media