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

 

Fixed rates Fall - Has the Market Peaked?

Cairns Lockie Limited Mortgage Bankers

Press Release 15 June 2000

Fixed rates Fall - Has the Market Peaked?

Mortgage bankers Cairns Lockie Limited announced a 10 basis point reduction in all fixed rate mortgage products, effective 16 June 2000. The move follows a move down yesterday by the Westpac on the back of an easing in longer dated wholesale rates.

Mr Lockie said that Cairns Lockie had a policy of being the last to put rates up in a rising market and the first to reduce them in a falling market. Our recent rise in floating rates lagged the trading banks by up to three weeks he said. This fall in fixed rates was amongst the first in the market.

Fixed rates are now (from 16 June 2000)
Two year fixed 8.65
Three year fixed 8.75
Five year fixed 8.89

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-

For further information contact: James Lockie Director Cairns Lockie Limited Phone 09 525 9711 Fax 09 579 7795 Email jlockie@emortgage.co.nz Web www.emortgage.co.nz




© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Up 17.% In June Year: Fuel And Rent Drive Inflation

The consumers price index (CPI) rose 0.6 percent in the June 2019 quarter, due to higher prices for petrol and rent, Stats NZ said today. More>>

ALSO:

Services: Softer June Points To Economic Slowdown

Activity in New Zealand's services sector softened in June, adding to a picture of lacklustre economic growth. The BNZ-BusinessNZ performance of services index fell 0.8 of a point in June from May to a seasonally adjusted 52.7. More>>

ALSO:

Incomings: Migration Remains High

Annual net migration was provisionally estimated at 50,200 (± 800) in the year ended December 2018 compared with 52,600 in the previous year, Stats NZ said. More>>

ALSO:

BusinessDesk: ComCom Files High Court Proceedings Against Westpac

The commission alleges the bank breached the Credit Contracts and Consumer Finance Act 2003 by failing to provide key information it was required to give customers under the law. More>>