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Analysis falls in favour of fixing two or three yearsFriday, 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»
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%. MORE»Economists and markets say interest rates up this weekSunday, 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. MORE»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. MORE»Little evidence the RBNZ needs to aggressively raise ratesFriday, 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. MORE»Two non-bank lenders exit marketTuesday, July 13th, 9:24PM
Two non-bank lenders are pulling out of the home loan market because of a lack of funding. MORE»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. MORE» The seven considerations in deciding to float or fixFriday, July 9th, 12:35PM
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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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Latest Trends
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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