Mortgage Rates Daily Commentary
Thursday 9 July 2026
Floating rates rising post OCR increase; What the changing housing market means for prices
Following yesterday's OCR increase rate rises are trickling through for floating and revolving credit products. So far ASB, BNZ, Kiwibank and Westpac have announced increases.
Check out the changes here.
The question of whether the New Zealand economy can grow much without a recovery in the housing market remains a live issue. Here's what we learnt yesterday.
NEWSFLASH: Cash rate unchanged
The Reserve Bank today left the Official Cash Rate unchanged at 5.75%.
Thursday, January 23rd 2003, 9:21AM
NEWSFLASH: Cash rate unchanged -->NEWSFLASH: Cash rate unchanged -->"A key development since November has been a further sharp rise in the New Zealand dollar against all major currencies. If sustained, we expect the higher exchange rate to dampen future economic activity and, hence, medium-term inflation pressures," Reserve Bank governor Alan Bollard said.
"However, current domestic economic activity appears to be more robust than we anticipated, as reflected in indicators of household spending and construction sector activity. The latest estimates suggest that domestic inflationary pressure has continued, offsetting a fall in imported inflation. As expected, overall CPI inflation has remained towards the upper end of the 1 to 3% target band for inflation on average over the medium term.
"For the moment, it is appropriate to leave the OCR unchanged, reflecting the strong growth in the New Zealand economy. However, the balance of risks around the future path of interest rates has shifted. If the exchange rate remains at around present levels or appreciates further, and if the evidence points to reduced pressures on resources and medium-term inflation, then there may be scope for a cut in the OCR later in the year," Bollard said.
The next OCR announcement comes with the release of the Monetary Policy Statement on March 6.
This is the official announcement from the Reserve Bank. A news story will follow.
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