Last week's GDP figures and the US Federal Reserve's preparedness to provide "additional accommodation" have surprised everyone and now economists are all on the same page with the next Official Cash Rate (OCR) increase not expected until March 2011 and long term fixed rates expected to go lower.
FinanceDirect has made changes to all but its one-year home loan rates. It hiked its floating and six-month rates by 15 basis points and dropped its rates of 18-months and longer. Its two-year rate fell the 30 bps, its 18-month dropped by 19 points and its three-year rates fell 15 points. Its four-year and five-year rates dropped 10 and 5 points respectively.
