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Daily Commentary for 5 Mar 2010The first week of March has been very quiet on the home loan front, however attention is shifting to the upcoming Official Cash Rate announcement. Today we report that BNZ's Tony Alexander has changed his view and said now is the time to move from floating rates to fixed. See what he says here. One of the main news themes has been the latest quarterly disclosure documents from the banks. TSB Bank saw its its net profit surge in the December quarter and its mortgage book continued to grow. In other news for brokers we have a story this week about the NZMBA being the first association to join up to a disputes resolution scheme. You can find out more about what it is doing here.
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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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