Float no more?

After months of borrowing advice saying floating rates are the way to go, there has been a change of tune from BNZ economist Tony Alexander. He now says the time may have come to fix rates at one or two-years.

Friday, March 5th 2010, 10:45AM

We also have a new graph up showing the significant movement in mortgage interest rates that has been experienced within past decade.

In mortgage rates changes Westpac shimmied up its six-month rate last Friday by six basis points to 5.75% and cut its one-year rate by four basis points to 6.25% bringing it in line with the median rate for the major banks. It also reduced its revolving credit rate to 5.65%.

In Expert Views most economists have been looking at what will happen at next Thursday's Official Cash Rate (OCR) announcement and across the ditch the Reserve Bank of Australia (RBA) pushed up its official cash rate by 0.25% after a pause in February to 4%.

The December quarter reports for the banks are also out and we look at how the mortgage books of Kiwibank, BNZ, Westpac, ANZ and TSB held up.

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