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Daily Commentary for 8 Feb 2010Kiwibank has this morning cut 14 basis points from its floating rate, which is now 5.65% the second lowest floating rate offered by any lender. BNZ's TotalMoney product is offering the lowest floating rate of 5.59%. The other change Kiwibank made today was to its 18-month fixed rate, which was increased by 10 basis points. Also AMP introduced new 18-month rates with the Standard rate being 6.69%, AMP Priority 6.59% and AMP Low Doc 6.89%. In www.mortgagerates.co.nz news BNZ economist Tony Alexander looks at the Quarterly Labour Force survey analysing how it will impact the official cash rate.
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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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