Mortgage Rates Daily Commentary
Monday 15 December 2025
ANZ too hikes rates; Kiwibank says the RBNZ stuffed up its communications last week
ANZ has followed Westpac and increased interest rates of terms of 18 months or more. It too blames rising wholesale r rates.
Grant Knuckey, managing director for Personal Banking, said the increases in fixed rates were a response to recent rises in wholesale interest rates.
“Since our last fixed rate reduction on October 17, wholesale interest rates have risen significantly, increasing by 33 to 77 basis points for terms 12 months and longer.”
This follows the Reserve Bank’s latest cut to the Official Cash Rate, when it signalled a pause in the easing cycle, indicating the OCR would remain at 2.25% for the foreseeable future.
“Changes to the OCR affect floating mortgage rates more directly. Changing expectations about future OCR decisions influence wholesale rates, causing fixed mortgage rates to go up or down,” Knuckey said.
In the News Kiwibank is arguing the medicine, lower interest rates, is working to fix the sick economy. (Even though they are now rising).
Interesting, Jarrod Kerr says the RBNZ is "at the centre of some confusion" over interest rates.RBNZ is "at the centre of some confusion" over interest rates.
Here is what Kiwibank is saying.
Mike Pero increases profit forecast
Mike Pero Mortgages increased profit forecast provides little help for its share price.
Wednesday, July 14th 2004, 6:47AM
Newly listed mortgage broking firm Mike Pero Mortgages has upgraded its profit forecast.
The company says, in a notice to the NZX, that it has traded well over the four months ended June 30 and preliminary results indicate the net surplus for the period will exceed the forecast of $338,028 contained in the prospectus for the Initial Public Offering by approximately 20%.
The result for the four months to 30 June will be released to the NZX in mid August.
The sharemarket initially treated the news warmly pushing up the share price. However, yesterday it slipped 4c to 90c, reversing half of the gains booked when it upped its quarterly profit forecast.
MPM shares listed at $1 each. You can check out the share price HERE
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