Scoop has an Ethical Paywall
Reduction in Fixed Mortgage Rate
Cairns Lockie Limited Mortgage Bankers
Press Release 17 March 2000
Reduction in Fixed Mortgage Rate
Mortgage bankers Cairns Lockie Limited announced a further fall in its five-year fixed mortgage rate, effective immediately (17 March 2000). The new five year rate becomes 8.90% (down 15 points from 9.05%).
Mr Lockie noted that the company's new rate was amongst the lowest in market.
The spread between the two-year fixed rate and the five-year fixed rate has narrowed to just 25 points having been a wide as 100 points (1%) less than six months ago. The yield curve is now almost flat, indicating a cap on likely future moves in floating rates.
Floating rates remain unchanged at a competitive 7.15%.
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-
Business Canterbury: Urges Council To Cut Costs, Not Ambition For City
Wellington Airport: On Track For Net Zero Emissions By 2028
Landcare Research: ANZAC Gall Fly Release Promises Natural Solution To Weed Threat
NZ Anti-Vivisection Society: Auckland Rat Lovers Unite!
University of Canterbury: $1.35 Million Grant To Study Lion-like Jumping Spiders
Federated Farmers: Government Ends War On Farming
