Mortgage rates on the rise again

[MotherBear]

Mortgage rates on the rise again
9:45AM Wednesday May 28, 2008

ANZ National Bank is increasing its short-term fixed mortgage lending rates today, but cutting some longer-term rates by 15 basis points.

ANZ National is also increasing deposit rates by up to 50 basis points.

The changes to household lending rates were being made because of fluctuations in wholesale funding costs, the bank said.

At ANZ and National, the six-month home lending rate will rise by 20 basis points to 9.8 per cent, and the one-year rate will increase by 40 points to 9.8 per cent.

The two-year and 30-month fixed rates remain at 9.4 per cent, but three, four and five-year rates will fall by 15 points to 9.35 per cent.

More here .