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

 

'Unprecedented' Conditions: Genesis Coal Burn 5-Yr High

Coal-fired generation from Genesis Energy’s Huntly operations was the highest in more than five years in the December quarter, as a combination of low hydro storage and plant outages were compounded by tight natural gas supplies. More>>

ALSO:

Climate Summary: NZ’s Equal-2nd Warmest Year On Record

Annual temperatures were above average (+0.51°C to +1.20°C above the annual average) across the majority of New Zealand... 2018 was the equal 2nd-warmest year on record for New Zealand, based on NIWA’s seven-station series which began in 1909. More>>

ALSO:

GDP: Economic Growth Dampens In The September Quarter

Gross domestic product (GDP) rose 0.3 percent in the September 2018 quarter, down from 1.0 percent in the previous quarter, Stats NZ said today... GDP per capita was flat in the September 2018 quarter, following an increase of 0.5 percent in the June 2018 quarter. More>>

ALSO:

Up $1.20: $17.70 Minimum Wage For 2019

Coalition Government signals how it will move toward its goal of a $20 p/h minimum wage by 2021... “Today we are announcing that the minimum wage will increase to $17.70 an hour on 1 April 2019." More>>

ALSO: