Fixed term mortgage rates inching higher

Fixed term mortgage rates inching higher

A watch on bank mortgage rates by Good Returns shows that rates are inching upwards.

  Kiwibank has increased its one year rate from 7.35 % to 7.50%

  Kiwibank has increased its three, four and five year rates, from 7.6%, to 7.70%.

  National Bank now has all its fixed rates at 7.80%

  Sovereign increased its six month, and one and two years to 7.80%.

  ANZ increased all its fixed rates of one year or more to 7.80%.

ASB Bank economist Anthony Byett said expectations of Reserve Bank rate hikes are increasing and this is feeding through to the fixed rates.