Latest report shows slight movement in rates
In a week marked by subtle adjustments, financial comparison resource Canstar NZ reported shifts in interest rates across different financial products for the week ending March 8. Here’s a breakdown of the changes observed:
Home Loans: Six providers took steps to decrease 24 fixed rates, marking an average decline of 0.19%.
Credit Cards: No alterations were noted in credit card rates during this period.
Savings Accounts: The realm of savings accounts remained unchanged, with no modifications reported in rates for both base and bonus accounts.
Term Deposits: Adjustments were observed as two providers increased rates by an average of 0.08%, while four providers reduced rates across 20 terms by an average of 0.13%.
Detailed Rate Statistics: Home loan rates for owner-occupiers saw a marginal decrease across various fixed terms, with the average ranging from 6.69% to 8.59%.
Personal credit card rates exhibited stability, with no alterations in both non-rewards and rewards categories.
Savings accounts maintained their previous rates, with no changes noted in base or bonus rates.
Term deposit rates experienced minor fluctuations, with some terms witnessing increases while others saw decreases.
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