Two more banks put up mortgage rates, two-year term rises to 6.29%
TSB said today that it would be putting up its six-month to three-year year fixed lending terms, effective immediately.
The largest of those increases is for its two-year offering, which jumps 24 basis points (bps) to 5.49% (special) and 6.29% (standard).
Special rates require a minimum 20% deposit.
TSB’s fixed one-year terms will rise by 20bps to 4.99% (special) and 5.79% (standard).
Its six-month fixed special moves from 4.69% to 4.79%, while the standard rate also jumps 10bps to 5.59%.
Yesterday, Kiwibank announced it would be lifting some of its terms.
Its one-year fixed special rate moved from 4.75% to 4.95%.
The two-year rate increases by 20bps to 5.39%.
Both the three-year and six-month rates will jump 10bps 5.49% and 4.75% respectively.
Last week both ASB and ANZ lifted some of their home loan rates.
ASB’s executive general manager for personal banking Adam Boyd said the changes reflected rising wholesale interest rates.
“This has a direct bearing on the rates we offer on lending and deposits, in line with what is happening in markets around the world,” he said.
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