Yield curve: Jan 27

Pepper spices up its birthday

Non-bank lender Pepper Money is going green for its 21st birthday.

Kiwibank lockdown rate hikes

State-backed Kiwibank has followed the Australian-owned big four with lockdown rate hikes.

SBS operating surplus jumps, targets reverse mortgage growth

The SBS Group reported an operating surplus of $55.2 million for the year ending March 2021, up from $21.3 million in the previous 12 months.

HSBC fixed rates creep up

HSBC has raised its 12 month and 18 month home loans above the 2% threshold as mortgage rates begin to edge up from record lows.

Avanti slashes near-prime mortgage rate

Avanti has reduced its near-prime mortgage rate to under 4%, as non-bank lenders offer increasingly competitive loans.

Harmoney floats

Lender and former P2P specialist Harmoney has joined the stock market in Australia and New Zealand.

Pepper makes trail pledge

Pepper Money will keep paying trail to advisers with Covid-19 affected clients until the end of next year.

Financial Markets Authority takes ANZ to court

The Financial Markets Authority has filed court proceedings against ANZ New Zealand over issues with credit card repayment insurance policies.

Simplicity launches 2.5% floating rate

KiwiSaver provider Simplicity has launched a 2.5% floating rate mortgage for first home buyers, becoming the cheapest home loan in New Zealand.

New record low mortgage rate at 2.8%

China Construction Bank has slashed its one year mortgage rate to just 2.8%, becoming a new record low for the New Zealand market. 

ANZ capital failings highlighted

ANZ New Zealand failed to control internal processes concerning its capital modelling systems, according to new report.

TSB one-year falls to 3.09%

TSB is the latest bank to slash fixed rates after the Reserve Bank's emergency OCR cut last week, cutting its one year rate to 3.09%

ASB matches 3.05% rate

ASB is the latest bank to slash fixed rates, matching ANZ's one year price of 3.05%.