NZ up interest rate to control red hot property market
Hot on the heels of today's 25 basis points increase to the Official Cash Rate, the country's biggest bank has unveiled increases to its floating and flexible mortgage rates and "Serious Saver" savings account
The increase will see ANZ's floating mortgage rate rise to 5.99% from 5.74%, and its revolving credit 'Flexible" rate will rise to 6.10%.
The change is effective from 17 March for new borrowers, and from April 1 for existing lending
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