Latest / Auckland News Today | 2 Min News | The Daily News Now!
Banks Raise Rates Amid Inflation | Auckland News
Mortgage rates just hit a new high as ANZ and three other major banks hike variable home loan rates by a quarter percent—pushing new borrower rates to 6.04% and affecting existing borrowers by July 29. This follows the Reserve Bank’s surprise cash rate rise and signals more hikes ahead to tame inflation. Borrowers brace for higher monthly payments, while savers get a small win: ANZ’s Serious Saver account now offers 1.75% interest from August 1. Banks are urging struggling customers to reach out for help. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.