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Experts' Views
Mortgage rates “set to fall dramatically”Monday, February 28th, 4:28PM
Mortgage rates are "set to fall dramatically" as a result of the destructive Christchurch earthquake which hit last week, according to some economists.ANZ, Westpac, ASB, Deutsche Bank and the markets are all expecting the Official Cash Rate (OCR) to be cut by the Reserve Bank at next Thursday's Monetary Policy Statement. BNZ and J P Morgan however expect the OCR to hold until 2012. In Property Focus, ANZ says it expects the Reserve Bank to cut the OCR by 25 basis points in both March and April with floating rates falling back to last year's levels...MORE»
Previous News
BNZ pushes back OCR increase predictionFriday, February 4th, 10:38AM
BNZ has pushed back its view on when the official cash rate (OCR) will increase from June to September, joining the predictions of ASB and Westpac. MORE»September OCR increase more likelyTuesday, February 1st, 6:06AM
In a nutshell inflation is driven by growth versus economic slack and analysing these areas brings to light a reduced chance that the official cash rate (OCR) will increase in June making September more likely. MORE»OCR increase expectations pushed out to SeptemberWednesday, January 19th, 11:51AM
Bank economists are shifting their views further out on the Official Cash Rate (OCR) increase with ASB now joining Westpac in predicting a September hike. MORE»OCR predictions for the New YearTuesday, December 21st, 5:30PM
Consider fixing two years nowFriday, November 19th, 10:42AM 2 comments
If the intention of borrowers all along has been to sit floating simply waiting for the low point in fixed rates then BNZ economist Tony Alexander says he would be inclined to fix now. MORE»OCR not expected to increase next weekThursday, October 21st, 12:39PM
Economists do not expect the Official Cash Rate (OCR) to increase next week, with third quarter inflation being well-behaved in the middle of the Reserve Bank's target range at 1.5% and with retail sales in August and house prices last month printing weak results. MORE»How attractive would rates have to be to fix?Monday, October 11th, 5:42PM
Borrowers should stay floating until someone comes along and offers a really attractive fixed rate says BNZ economist Tony Alexander, explaining how attractive that rate would have to be. MORE» |
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Future interest rate hikes softened
The Reserve Bank has kept the OCR at 2.50% as expected, but had lowered its forecast track for the 90 day bill rate by around 60 basis points (0.6%) to a peak of 4.30% by the end of next year. For borrowers that means floating home loans are not forecast to rise as much as previously forecast. In June the expectation was that the rates would rise 2% in the next 12 months: that figure has now been wound back to 1.4%. 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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