The Co-operative Bank has raised all its home loan rates, except its 5 year fixed rate.
And that includes its floating rate and its revolving credit rate.
These have been hikes by +10 bps to 5.55%.
The increases to fixed rates range from +6 bps to 4.45% for one year fixed, and to 5.45% for 4 years fixed, to +20 bps to 4.75% for two years fixed.
These are the rates for their "owner occupier" lending which applies where the LVR is lower than 80%, and for Welcome Home Loans.
Similar changes apply to their Standard rates, which apply for greater than 80% LVR loans and investment property lending. Standard rates are typically +50 bps higher.
These increases are effective on Wednesday, January 18, 2017.
Today's changes don't change who has the leading carded rates for mortgage borrowers. HSBC Premier still leads for a one year term, SBS Bank now has the leading rates for 2 years, and TSB Bank has the market-leading offers for 3 and 5 year terms.
See all banks' carded, or advertised, home loan rates here.
A snapshot from the key retail banks is:
below 80% LVR | 1 yr | 18 mth | 2 yrs | 3 yrs | 4 yrs | 5 yrs |
% | % | % | % | % | % | |
4.25 | 4.99 | 4.59 | 5.29 | 5.45 | 5.60 | |
4.49 | 4.65 | 4.79 | 5.09 | 5.49 | 5.69 | |
4.49 | 5.05 | 4.79 | 5.09 | 5.69 | 5.79 | |
4.35 | 4.54 | 4.95 | 5.45 | 5.55 | ||
4.49 | 5.05 | 4.79 | 5.09 | 5.69 | 5.49 | |
4.45 | 4.60 | 4.75 | 5.05 | 5.45 | 5.55 | |
4.19 | 4.29 | 4.39 | 4.69 | 5.09 | 5.29 | |
4.29 | 4.45 | 4.39 | 4.75 | 5.29 | 5.45 | |
4.25 | 4.45 | 4.49 | 4.69 | 5.10 | 5.29 |
In addition to the above table, BNZ has a fixed seven year rate which is 6.15%.
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