ASB took centre stage at the end of last week with a 65 point cut to its floating rate. Less commented on were the increases to its fixed rates. Our table has updated rates from Sovereign. It has dropped its floating rate 55 basis points to 5.85% and increased all its fixed rates of one-year or more. They are now sitting with the highest four and five-year rates in our table.
This week's OCR announcement will be watched closely to see two things. One whether the OCR moves or not, but more importantly what comments the Reserve Bank has to make on rates and whether it will maintain its views that increases are a year away. Read about the different views on what will happen here.
Also today we have the latest news on what's happening with house prices. QV's news is pretty positive for the market. To find out what is happening in your area click here
