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


ANZ Announce Increase In Home Loan Interest Rates

Tuesday 23 April 2002

ANZ Managing Director Dr Murray Horn today announced an increase in variable and fixed home lending rates.

The standard variable home loan interest rate will increase from 7.20% per annum to 7.50% per annum for new applications received from Wednesday 24 April 2002 and for existing customers from Wednesday 8 May 2002.

In addition to this ANZ's Easy Start introductory 12-month variable rate will increase from 5.95% per annum to 6.25% per annum for new applications. For existing ANZ Easy Start customers the current rate will also increase by 0.30%.

The ANZ Money Saver variable rate will also increase from 6.60% per annum to 6.90% per annum. These changes are also effective for new applications received from Wednesday 24 April 2002 and for existing customers from Wednesday 8 May 2002.

The ANZ FlexiPlus home loan interest rate will increase from 7.20% per annum to 7.50% per annum for both new and existing customers from Wednesday 8 May 2002.

Fixed home loan rates will also increase from Monday, 29 April 2002, as follows:
* Six month fixed rate increases from 6.95% per annum to 7.20% per annum
* One year fixed rate increases from 7.35% per annum to 7.50% per annum

"These increases have become necessary due to higher wholesale interest rates, which have increased sharply in recent months in anticipation of the RBNZ's tightening of monetary policy," says Dr Horn.

"The RBNZ has now raised the Official Cash Rate by a total of half a percentage point from the low reached in November last year. However 90 day bank bill rates have risen by almost a full percentage point over the same period as the market has moved to anticipate both the recent official rate increases and further rises over the months ahead."


© Scoop Media

Business Headlines | Sci-Tech Headlines


ScoopPro: Helping The Education Sector Get More Out Of Scoop

The ScoopPro professional license includes a suite of useful information tools for professional users of Scoop including some specifically for those in the education sector to make your Scoop experience better. More>>

Big Tax Bill Due: Destiny Church Charities Deregistered

The independent Charities Registration Board has decided to remove Destiny International Trust and Te Hahi o Nga Matamua Holdings Limited from the Charities Register on 20 December 2017 because of the charities’ persistent failure to meet their annual return obligations. More>>

57 Million Users' Data: Uber Breach "Utterly Preventatable"

Cybersecurity leader Centrify says the Uber data breach of 57 million customer and driver records - which the ride-hailing company hid for more than a year - was “utterly preventable”. More>>

Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>

Having A Cow? Dairy Product Prices Slide For Fourth Straight Auction

Dairy product prices fell at the Global Dairy Trade auction, retreating for the fourth straight auction amid signs of increased production... Whole milk powder fell 2.7 percent to US$2,778 a tonne. More>>


Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>


Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>