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 www.emortgage.co.nz

-ENDS-

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Other Windy Cities: Auckland-Chicago Named A Top 10 ‘Most Exciting’ New Route

The inclusion of Auckland-Chicago on Lonely Planet’s Where to fly in 2019? The 10 most exciting new flight routes list comes just two weeks before Air New Zealand prepares to celebrate its inaugural flight to Chicago’s O’Hare International Airport on 30 November. More>>

Deadly Strain: ESR Ups Its Reporting On Meningococcal Disease

The increasing number of cases of Group W Meningococcal disease (MenW) has prompted ESR to increase its reporting on the disease to the Ministry of Health. ESR has upped its reporting to weekly. More>>

ALSO:

Very Small Things: "Game-Changing" 3D Printing Technology Launched

New Zealand microfabrication researchers Andrea Bubendorfer and Andrew Best, the co-inventors of a new way of fabricating very small things with Laminated Resin Printing (LRP), are part of Callaghan Innovation’s MicroMaker3D team launching the new patent pending technology in the US this week. More>>

ALSO:

Wainui: Major Infrastructure Partnership For North Auckland

Minister of Housing and Urban Development Phil Twyford and Auckland Mayor Phil Goff today announced a partnership that will fund $91 million of roading and wastewater infrastructure to support the building of 9000 homes... More>>

ALSO: