Mortgage wars should spark boost to lending

Thu, 28 May 2020

Mortgage lending was slashed to about half of normal levels last month due to covid-19 restrictions but economists say the latest round of ‘rate wars’ should spark some renewed buyer and seller enthusiasm. For those keen on picking up a sharp mortgage, record low wholesale rates have seen Kiwibank drop its one-year fixed rate to 2.65 percent, with both ASB Bank and AIA/Sovereign offering two-year fixed loan to value ratio options at 2.69 percent. HSBC’s premier two-year rate is as low as 2.60 percent. The lower-rate options could perk up...

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