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Daily Commentary for 26 Feb 2010The week finishes on a good note with two of the more active lenders cutting rates. Westpac has dropped its one-year rate by the smallest of margins, four basis points to 6.25%, but increased its six-month rate six points to 5.75%. It also made a four point cut to its Choices Everday revolving credit loan. Meanwhile Kiwibank made changes at the other end of the yield curve, cutting 29 points from its four-year rate and 19 from its five-year rate putting them at 8.20% and 8.50% respectively. In the news we update you on how BNZ profits and that it only wrote a small portion of home loan business in the December quarter. |
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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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