4 May 2001

The swing towards a positive yield curve continued today with non-bank lender Cairns Lockie Limited reducing its short term fixed mortgage rates, and increasing the longer dated fixed rates.

The company's flagship Quick Start Home Loan falls to a new low of 6.69%, amongst the lowest in the market.

The new fixed rates are:

Quick Start One Year 6.69%
Two Year Fixed 7.20%
Three Year Fixed 7.55%
Five Year Fixed 7.80%

The floating rate remains 7.75%.

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-