INTEREST RATES DROP
Mr Ewing Robertson, Chief Executive of the combined Trust Banks Eastem and Central and Wanganui, announced today a decrease in their new First Mortgage Residential rates from 17.75% to 16.75%. Trust Bank's decrease in mortgage rates will take effect immediately for new lending and the lower rate will apply to existing mortgages on June 30. It is the third time since the beginning of the year that Trust Bank has decreased its rates in line with lower funding costs and a competitive housing market. Mr Robertson added that Trust Banks Eastern and Central and Wanganui will not be introducing fixed rate residential mortgages for terms exceeding three years. "Interest rates are expected to continue falling and we would not want to see our customers pay the same rate for a long period of time when floating interest rates are lower," said Mr Robertson.
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https://paperspast.natlib.govt.nz/newspapers/WAIBUL19880524.2.2.5
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Waimarino Bulletin, Volume 6, Issue 243, 24 May 1988, Page 1
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146INTEREST RATES DROP Waimarino Bulletin, Volume 6, Issue 243, 24 May 1988, Page 1
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