Mortgage Rates Daily Commentary
Monday 27 March 2017
OCR predictions; Mortgage adviser survey
Some interesting comments from Westpac today. It agrees with the RBNZ that the OCR will remain on hold for a considerable time. "We’ve pencilled in two OCR increases in the first half of 2019, but the way we’d describe this more broadly is that the first rate hike is too far away to be precise about the timing"
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BNZ drops fixed rates
Monday, January 8th 2001, 9:30PM
The Bank of New Zealand has announced an across-the-board drop for all its fixed rate housing loans. (To see all the latest rates Click here
The fall includes a 0.5% reduction to its one-year fixed rate.
The bank said the reductions were due to a fall in wholesale interest rates. The new rates will take effect from Tuesday January 9.
The BNZ's announcement comes after the US Federal Reserve last week cut rates by half a percentage point in response to concerns about a severe slowdown in the US economy.
New Zealand's Reserve Bankis due to review its benchmark rates in about two weeks time.
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