OCR preview
Sunday, January 24th 2010, 9:19PM
ANZ has today removed its condition of 80% or less LVR condition from its Simple Variable rate and are now offering its low floating rate of 5.69% to all customers.
This week's focus is on Thurday's official cash rate (OCR) announcement. The mortgagerates.co.nz survey of economists suggests there will be no change.
BNZ economist Tony Alexander has made predictions about changes to the OCR, as well as giving borrowing advice in the first BNZ weekly overview of the year.
Meanwhile we have a new graph which shows what ASB economists are forecasting for the OCR this year.
On the rates front Westpac is the second major bank to increase its mortgage rates in 2010, hiking its six and 18-month rates by 10 and 20 points respectively last Friday. Its six month rate is now 5.69% and 18 month rate 6.79%.
| « Westpac ups 6 and 18month rates | Yep, it's the two-year market for SBS » |
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