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, 12:56PM

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

Economists divided on when to expect rate cuts

Economists are not expecting the Reserve Bank to cut the official cash rate this week, and they have a range of views about when the bank will start to ease monetary policy.

Sunday, April 23rd 2006, 9:24PM

by Jenny Ruth

Reserve Bank governor Alan Bollard is practically universally expected to leave interest rates unchanged on Thursday, but he is likely to reiterate that he doesn’t see any scope for cutting rates any time soon.

Bollard’s last move was in December when he raised the official cash rate (OCR) to 7.25%.

There is a range of views amongst economists about when rate cuts will start. ANZ/National Bank has pushed its expectations of a rate cut back from September to December due to recent economic news.

ANZ/National’s change of mind brings it into line with Bank of New Zealand’s view that the first rate cut will be in December at the earliest and that there’s a big risk it will be later.

BNZ also notes that the government’s Working for Families package kicked in from April 1, providing substantial economic stimulus.

Other economists are more sanguine. Robin Clements at UBS New Zealand says he continues to pencil in a start to the easing cycle for June or July.

"The real economy is slowing faster than the Reserve Bank envisaged, while the labour/housing risks look under control," Clements says.

Westpac is also expecting the central bank to start cutting rates in July. Petrol price increases will drive the headline inflation rate higher "but real activity indicators have been weak and will, in time, bring lower domestic inflation."

Daniel Wills at ASB Bank still puts the earliest OCR cut at September or October. He notes that the wholesale interest rate market is pricing in an above 50% chance of rate cuts from September.

Darren Gibbs at Deutsche Bank says he expects Bollard will make it clear that the case for an easing at the September or October reviews is yet to be proven.

He still expects a September easing "although the balance of risks around this call are heavily skewed towards a later easing."

« Mike Pero Mortgages keeps growingHome loan rates start rising »

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