Finware Focus

31 March 2014 - ASB Rate Change and ANZ Assessment Update

Due to recent increases in the cost of funds, ASB increased its fixed housing rates by up to 0.25% p.a. effective Friday, 28th March.

Check out the new rates in iLend™.

ANZ Product

Initial Rate

+/-

Housing Fixed 6 Months

5.55%

0.20%

Housing Fixed 12 Months

5.85%

0.16%

Housing Fixed 18 Months

5.99%

0.14%

Housing Fixed 24 Months

6.49%

0.20%

Housing Fixed 36 Months

6.85%

0.25%

Housing Fixed 48 Months

7.19%

0.20%

Housing Fixed 60 Months

7.40%

0.20%


Effective Saturday, 29th March, ANZ increased their Servicing Sensitivity Margin (SSM) to 7.10% p.a. This is used when assessing a home loan application to check customers will meet their loan repayments if home loan interest rates rise. To calculate affordability, ANZ’s Loan Affordability calculator uses an assessed rate that is the higher of the actual rate or the SSM.

The ANZ Loan Tools workbook (version 1.6) is now available to download on your computer.

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