After leading the market down with a reduction in fixed mortgages two weeks ago, non-bank lender Cairns Lockie Limited today announced a further fixed rate reduction.

The new fixed rates become

Quick Start 7.75%
One-year 7.99% (down from 8.05%)
Two-year 7.99% (down from 8.05%)
Three-year 7.99% (down from 8.05%)
Five-year 8.15%

Rates have been reduced following a reduction in longer dated wholesale rates.

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

Merry Christmas.

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

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