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Expert's Views
Current swap rates docileThe following two graphs show you what has been happening to swap rates recently. Swap rates are important as they indicate the cost banks are paying for money to fund their home loans.Thursday, August 6th 2009, 5:32PM
Two of the most important indicators to understand where short term home loan rates are sitting and where they may head are the official cash rate and the 90-day bank bill rate. The graph on the right, NZ short-term rates, shows that the OCR has been flatlining at 2.50% recently and 90-day rates have stayed pretty static. This indicates direct costs for funding short term home loans are stable and interest rate changes unlikely.
This second graph looks at a range of swap rates for longer terms. These have been drifting higher which suggests home loan rates for equivalent terms may move up too.
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Analysis falls in favour of fixing two or three years Floating rates to rise but not as fast or far as expected Bollard lifts OCR, predicts more moderate pace of increases PRESS RELEASE: RBNZ raises OCR to 3% Economists and markets say interest rates up this week Does weak data mean the RBNZ should stop raising interest rates? |
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Flattening yield curve
The above graph shows the journey in which the home loan interest rates have taken over the past couple of years compared with the five-year median. With the considerable cuts to long-term fixed rates this month and the increases we saw to floating rates in June this year, the yield curve is starting to show signs of flattening out. MORE » |
Disclaimer: Every possible effort has been made to keep the information in the rates tables as accurate as possible, however, neither the publishers of Mortgage Rates nor anyone engaged to compile these tables accept any liability for inaccuracies or any loss suffered as a result. It is strongly advised that readers check loan details directly with the provider concerned.
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