Mortgage rates hiked at ANZ National

ANZ National Bank has bumped up its fixed interest rates for three, four and five-year mortgages and business loans.

Competition for savings was putting upward pressure on term lending rates, the bank said in its Market Focus report today.

The three-year rate has risen from 5.99 per cent to 6.15 per cent; the four-year rate from 6.40 per cent to 6.55 per cent; and the five-year rate from 6.5 per cent to 6.75 per cent.

The rises bring its longer period lending rates generally into line with other lenders.

To read the full NZ Herald story click here

Posted: 24 Mar 2009

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