Mortgage rate changes released 4 September 2009

Mortgage rates alter again effective from today so always get advice before chosing your fixed or floating options.

The new interest rate structures released this afternoon by several lenders reflects the changing cost of offshore funds, which banks rely on to supplement the funds their local depositors place with them.

There has been an easing in the cost of shorter term offshore funding rates but there was also significant competition in the New Zealand deposit market, which was pushing these rates higher than they would otherwise be.

Call Denis for free confidential home loan advice on 0274 575 190 or contact the office using the contacts below.  Denis services clients NZ wide.

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