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Sue T resigns

Thursday, February 25th 2010, 5:42AM

There are no mortgage rate changes to advise of today, however we can exclusively report that Sue Tierney has resigned from the NZMBA board.

Also over at www.landlords.co.nz Harcourts' chief executive Bryan Thomson says property sales numbers are predicted to improve over the next two months.

 

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Future interest rate hikes softened

The Reserve Bank has kept the OCR at 2.50% as expected, but had lowered its forecast track for the 90 day bill rate by around 60 basis points (0.6%) to a peak of 4.30% by the end of next year.

For borrowers that means floating home loans are not forecast to rise as much as previously forecast. In June the expectation was that the rates would rise 2% in the next 12 months: that figure has now been wound back to 1.4%.

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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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