ANZ National Raises Home Loan Rate on Credit Costs, Herald Says

ANZ National Bank.. New Zealand’s largest lender raised its fixed mortgage rates for the second time this year as global credit market turmoil increases funding costs, the New Zealand Herald reported. ANZ National lifted its two-year fixed rate to 9.7 percent from 9.5 percent, the Herald said, citing a statement issued by the bank. The three-year rate rose 0.25 percentage points to 9.55 percent. The move is in response to “severe” market conditions and an increase in wholesale interest rates,