tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Thursday, September 19th, 6:46PM

Mortgages

Mortgage Rates Daily Commentary
Saturday 14 September 2024  Add your comment
Your Weekend Listen: Hear the latest from Prospa

Prospa NZ managing director Adrienne Begbie joins the TMM Better Business podcast to discuss opportunities for mortgage advisers. Click here to see some of the things she covers in this podcast.

LISTEN TO THE FULL POCAST ON THESE PLATFORMS

 

                          

rss
Latest Headlines

Reserve Bank hikes rates

As expected the Reserve Bank has hiked the Official Cash Rate 25 basis points.

Thursday, September 9th 2004, 8:37AM
The Reserve Bank has increased the Official Cash Rate from 6%t to 6.25%. The Bank has also stated that further tightening of monetary policy is likely to be required.

Speaking at the release of the Reserve Bank's September 2004 Monetary Policy Statement, Reserve Bank Governor Alan Bollard said "The New Zealand economy is performing very strongly. On balance, the recent economic data has delivered positive surprises. Economic growth is near its peak, but resources will remain stretched for some time, and inflation pressures remain strong.

"In terms of the economic outlook, there are risks to consider. The consensus view in our projections is that global economic activity is expanding at a reasonable pace. However, high world oil prices and softer growth in the US could slow global economic growth. Further, if the TWI continues to rise, or if commodity prices fall sharply, our growth prospects would be weaker.

"Domestically, the economy is heavily influenced by housing activity, which we expect to continue to slow over coming months. However, if that weakening is delayed, then household spending would continue to expand at a rapid rate, fuelling inflation pressures. This could be compounded by continuing strength in the labour market.

"So far, inflation has been kept in check by the rising New Zealand dollar, which has pushed import prices lower. We expect domestic inflation to remain strong due to tight production capacity. Assuming the exchange rate is near a peak, import prices are unlikely to continue falling. As a result, even though economic growth is likely to be slowing next year, inflation is projected to increase.

"The Reserve Bank is required to keep inflation between 1 and 3% `on average over the medium term'. Also, section 4(b) of the Policy Targets Agreement requires us to minimise unnecessary instability, hence monetary policy must always be a balancing act. We are using this flexibility to the full. However, looking ahead we do not have much inflation headroom, which is why we are continuing our incremental tightening of monetary policy."

This is a press release from the Reserve Bank. Story to follow.

« NZMBA prepares for regulationReserve Bank raises rates and signals more to come »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 5.94 - - -
AIA - Go Home Loans 8.49 6.45 5.89 5.79
ANZ 8.39 6.95 6.39 6.39
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 6.35 5.79 5.79
ASB Bank 8.39 6.45 5.89 5.79
ASB Better Homes Top Up - - - 1.00
Avanti Finance 8.90 - - -
Basecorp Finance 9.60 - - -
BNZ - Classic - ▼6.29 ▼5.79 5.79
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One 8.44 - - -
BNZ - Rapid Repay 8.44 - - -
BNZ - Std 8.44 6.45 5.89 5.79
BNZ - TotalMoney 8.44 - - -
CFML 321 Loans 6.70 - - -
CFML Home Loans 6.95 - - -
CFML Prime Loans 8.75 - - -
CFML Standard Loans 9.70 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - ▼6.15 - -
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Owner Occ 8.15 ▼6.35 ▼5.79 ▼5.69
Co-operative Bank - Standard 8.15 ▼6.85 ▼6.29 ▼6.19
Credit Union Auckland 7.70 - - -
First Credit Union Special - 6.75 6.35 -
First Credit Union Standard 8.50 7.35 6.95 -
Heartland Bank - Online 7.99 6.69 6.35 6.15
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.00 6.50 -
ICBC 7.85 6.45 5.99 5.89
Kainga Ora 8.39 7.05 6.59 6.49
Kainga Ora - First Home Buyer Special - - - -
Lender Flt 1yr 2yr 3yr
Kiwibank 8.25 ▼7.19 ▼6.69 ▼6.59
Kiwibank - Offset 8.25 - - -
Kiwibank Special - ▼6.29 ▼5.79 ▼5.79
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 8.75 6.85 6.39 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
SBS Bank 8.49 7.19 6.49 6.49
SBS Bank Special - 6.59 5.89 5.89
SBS Construction lending for FHB - - - -
Lender Flt 1yr 2yr 3yr
SBS FirstHome Combo 5.94 5.59 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
TSB Bank 9.19 7.25 6.79 6.69
TSB Special 8.39 6.45 5.99 5.89
Unity 8.64 ▼6.45 ▼5.89 -
Unity First Home Buyer special - 6.20 - -
Wairarapa Building Society 8.50 6.65 5.99 -
Westpac 8.39 7.45 6.79 6.59
Westpac Choices Everyday 8.49 - - -
Westpac Offset 8.39 - - -
Lender Flt 1yr 2yr 3yr
Westpac Special - 6.85 6.19 5.99
Median 8.44 6.67 6.29 5.89

Last updated: 19 September 2024 9:31am

Previous News

MORE NEWS»

News Bites
Compare Mortgage Rates
Compare
From
To
For

To graph multiple lenders, hold down Ctrl key while clicking in list box

Also compare rates to OCR
Find a Mortgage Broker

Add your company

Use map
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com