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: Wednesday, August 12th, 9:48AM

Mortgages

Mortgage Rates Daily Commentary
Tuesday 11 August 2020  Add your comment
Kainga Ora rate cuts; Greens propose further tenancy reforms

Kainga Ora has slashed one, two, three, and five year rates this morning. Its one year rate is available at 2.93%. See the latest rates here.

Meanwhile, the Green Party does not believe recent tenancy reforms went far enough. It has proposed new rules on its election campaign. 

 

rss
Latest Headlines

Economists expect no change in OCR this week

Economists expect recent data has been sufficiently soft to allow the Reserve Bank governor Alan Bollard to leave interest rates unchanged when he reviews his official cash rate (OCR) on Thursday.

Sunday, January 22nd 2006, 10:12PM

by Jenny Ruth

That data includes business confidence plunging to a 30-year low and the annual inflation rate easing to 3.2% for calendar 2005 from 3.4% in the year ended September, below the Reserve Bank's forecast but still higher than Bollard's zero to 3% target.

As well, the economy expanded just 0.2% in the September quarter, below expectations, and the number of houses sold in December fell to 6906 from 9357 in November and 8546 in December 2004.

Bollard has raised rates nine times since early 2004 to 7.25%.

ASB chief economist Anthony Byett says that, since the central bank last raised rates in early December, economic statistics have been weaker than expected, letting Bollard keep rates on hold.

"But the figures still show that inflationary pressures are large and that the demand momentum still has some life," Byett says.

"Furthermore, there remains the risk that lending activity could accelerate again should medium-term interest rates continue the downward trend of recent weeks."

So far this year, ASB has cut its two-year fixed mortgage rate from 8.30% to 8.15% and its three-year fixed rate from 8.30%0 to 8.05%.

Macquarie Bank's economists say that given that leading indicators in New Zealand have deteriorated significantly in recent months, the Reserve Bank "has some additional leg-room to stretch out, sit back and take a breather from any imminent rate action."

UBS New Zealand economist Robin Clements says that with both business and consumer confidence at recessionary levels, that should ensure growth will slow further. "Accordingly, there is no case for further rate hikes in our view."

« Pero sees growth in lo-doc marketCompetition and more competition »

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 4.55 2.55 2.69 2.79
ANZ 4.44 3.15 3.25 3.39
ANZ Special - 2.55 2.69 2.79
ASB Bank 4.45 2.55 2.69 2.79
Bluestone 3.49 3.49 3.49 3.49
BNZ - Classic - 2.55 2.69 2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 3.15 3.29 3.39
BNZ - TotalMoney 4.55 - - -
CFML Loans 5.50 - - -
Lender Flt 1yr 2yr 3yr
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 3.35 3.85 -
Heartland 3.95 2.89 2.97 3.39
Heartland Bank - Online - - - -
Heretaunga Building Society 4.99 ▼3.85 ▼3.95 -
HSBC Premier 4.49 2.45 2.60 2.65
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 3.69 2.55 2.65 2.79
Kainga Ora 4.43 ▼2.93 ▼3.07 ▼3.24
Kiwibank 3.40 3.30 3.54 3.54
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.55 2.79 2.79
Liberty 5.69 - - -
Nelson Building Society 4.95 3.45 3.49 -
Pepper Essential 4.79 - - -
Resimac 3.39 3.45 2.99 3.35
SBS Bank 4.54 ▼3.05 3.19 ▼3.25
Lender Flt 1yr 2yr 3yr
SBS Bank Special - ▼2.55 2.69 ▼2.75
The Co-operative Bank - Owner Occ 4.40 2.55 2.69 ▼2.79
The Co-operative Bank - Standard 4.40 3.05 3.19 ▼3.29
TSB Bank 5.34 3.35 3.49 3.79
TSB Special 4.54 2.55 2.69 2.99
Wairarapa Building Society 4.99 3.65 3.69 -
Westpac 4.59 4.15 4.09 4.49
Westpac - Offset 4.59 - - -
Westpac Special - 2.55 2.69 2.79
Median 4.55 3.05 3.13 3.12

Last updated: 11 August 2020 8:24am

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
 
Site by Web Developer and eyelovedesign.com