Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Cairns Lockie - Reduction in Fixed Mortgage Rate

Cairns Lockie Limited Mortgage Bankers

Mortgage bankers Cairns Lockie Limited announced a fall in its five-year fixed mortgage rate, effective immediately (3 March 2000). The new five year rate becomes 9.05% (down from 9.15%). This is the first rate fall in almost a year.

Mr Lockie noted that the company was passing on a reduction in longer dated wholesale rates. "Some trading banks have increased their margin by holding their five year fixed rates at the 9.30% level" he noted, "We have reduced our rate".

The spread between the two-year fixed rate and the five-year fixed rate has narrowed to just 40 points having been a wide as 100 points (1%) less than six months ago. This is further evidence of a flattening in the yield curve.

Floating rates remain unchanged.

Cairns Lockie Limited is a mortgage banking company specialising in residential and residential investment lending. It has a strong internet presence through its site


© Scoop Media

Business Headlines | Sci-Tech Headlines


"Broad-Based Growth": GDP Rises 1 Percent In June Quarter

Gross domestic product (GDP) rose 1.0 percent in the June 2018 quarter, up from 0.5 percent last quarter, Stats NZ said today. This is the largest quarterly rise in two years. More>>


Judicial Review: China Steel Tarrif Rethink Ordered

On 5 July 2017 the Minister determined not to impose duties on Chinese galvanised steel coil imports. NZ Steel applied for judicial review of the Minister’s decision. More>>

Debt: NZ Banks Accelerate Lending In June Quarter

New Zealand's nine major lenders boosted lending at the fastest quarterly pace in almost two years as fears over bad debts subsided. More>>


Balance Of Trade: Annual Current Account Deficit Widens To $9.5 Billion

New Zealand’s current account deficit for the year ended June 2018 widened to $9.5 billion, 3.3 percent of GDP, Stats NZ said today. More>>