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Andrew Kelleher: Mortgage rate wars almost too good to be true
The latest round of mortgage rate wars has intensified, with some rates dropping to historic lows.
ASB Bank has become the latest bank to join the party - dropping its one year fixed rate to match the record low 3.95 per cent offered by ANZ.
JMI Wealth director Andrew Kelleher told Mike Hosking it's almost too good to be true.
"This is telling us there's a real battle for market share going on out there. Banks are obviously competing for a smaller pie. There is less lending going on. I'm just not sure the rates are sustainable."
LISTEN TO ANDREW KELLEHER TALK WITH MIKE HOSKING ABOVE
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By Newstalk ZBThe latest round of mortgage rate wars has intensified, with some rates dropping to historic lows.
ASB Bank has become the latest bank to join the party - dropping its one year fixed rate to match the record low 3.95 per cent offered by ANZ.
JMI Wealth director Andrew Kelleher told Mike Hosking it's almost too good to be true.
"This is telling us there's a real battle for market share going on out there. Banks are obviously competing for a smaller pie. There is less lending going on. I'm just not sure the rates are sustainable."
LISTEN TO ANDREW KELLEHER TALK WITH MIKE HOSKING ABOVE