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Daily Commentary for 3 Feb 2010The Reserve Bank of Australia surprised markets yesterday by leaving its cash rate at 3.75%. That move will help keep upward pressure of home loan rates in New Zealand. Meanwhile in our market mortgage rates remained unchanged. We wrap up the post OCR views of our economists here. Perhaps the most important news was a comment from Reserve Bank governor Alan Bollard, last Friday, where he said "it is possible there could be some meaty chunks to the upside".
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Latest News
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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