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Mortgage Rates Newsletter

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Analysis falls in favour of fixing two or three years

Friday, July 30th, 3:40PM

BNZ has adopted a central rate hike scenario of the peak being 5.5% instead of 6%, with one pause in the cycle in January and another in June next year as a result of yesterday's Reserve Bank statement and recent events.

In the BNZ Weekly Overview economist Tony Alexander says modelling this scenario produces an expected floating mortgage rate over the coming year of 6.9%. This compares to the Mortgagerates.co.nz median for the major banks of one year fixed at 6.45%. For two years BNZ forecasts an average floating rate of 7.6% versus the current major bank median of 6.99%. For three years BNZ forecasts an average floating rate of 7...MORE»

Floating rates to rise but not as fast or far as expected

Thursday, July 29th, 10:00AM

While floating rate mortgages will rise again thanks to Reserve Bank governor Alan Bollard, the good news is they probably won't rise as much or as fast as previously expected.

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Bollard lifts OCR, predicts more moderate pace of increases

Thursday, July 29th, 9:04AM

Reserve Bank Governor Alan Bollard raised the Official Cash Rate (OCR) a quarter point to 3% as expected, while predicting a less aggressive path for further increases, given subdued domestic demand and a fragile global economy.

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Previous Mortgage News

PRESS RELEASE: RBNZ raises OCR to 3%

Thursday, July 29th, 9:02AM

The Reserve Bank today increased the Official Cash Rate (OCR) by 25 basis points to 3%.

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Economists and markets say interest rates up this week

Sunday, July 25th, 11:13PM

Reserve Bank governor Alan Bollard will probably raise interest rates next week, despite recent data, particularly on the housing market, retail spending and inflation, being softer than expected.

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Does weak data mean the RBNZ should stop raising interest rates?

Friday, July 16th, 4:45PM

The recovery in the New Zealand economy is proving to be a very lacklustre affair which is leaving many people scratching their heads wondering if this is as good as it gets, says BNZ economist Tony Alexander.

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Little evidence the RBNZ needs to aggressively raise rates

Friday, July 16th, 4:15PM

New Zealand consumer prices rose less than expected in the second quarter as a decline in the price of food softened the impact of higher liquor and tobacco prices, providing little evidence that the central bank needs to aggressively hike interest rates.

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Two non-bank lenders exit market

Tuesday, July 13th, 9:24PM

Two non-bank lenders are pulling out of the home loan market because of a lack of funding.

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Looming inflation problem or not?

Tuesday, July 13th, 4:26PM

Economic recovery or not? Looming inflation problem or not? Perhaps we really need Paul the Octopus to settle the debate, says ASB. But unless he says something different, the bank's view remains that the economic recovery will continue steadily, not spectacularly.

 

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The seven considerations in deciding to float or fix

Friday, July 9th, 12:35PM

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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.

 

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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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