Cairns Lockie Lowers Mortgage Rates Below 7%

Friday, 9 February 2001, 11:31 am
Press Release: Cairns Lockie Limited

12 Jan 2001

Following moves in short dated wholesale rates, non-bank lender Cairns Lockie Limited today announced a further reduction in fixed rates effective immediately.

The new fixed rates become

Quick Start 6.99% (down from 7.25%)
One-year 7.35% (down from 7.45%)
Two-year 7.35% (down from 7.45%)
Three-year 7.55% (unchanged)
Five-year 7.65% (unchanged)

"This is the first time rates have fallen below 7% in some time", Mr Lockie said, "The move follows recent reductions in the discount rates in Australia and the USA."

By pricing its Quick Start Home Loan (One year fixed) at 6.99%, Cairns Lockie joins only 3 other mainstream lenders currently pricing below 7%.

The company's variable rate remains 8.25% with the line of credit remaining at 8.60%.

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-

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