OCR holder
Wednesday, January 27th 2010, 10:41PM
There were no mortgage rate changes Wednesday. The biggest news for borrowers was Moody's decision to upgrade New Zealand's banking sector. This means banks may end up paying less than before for money on the wholesale markets.
We don't expect the Moodys announcement will bring rates down, rather it is more likely to slow the rate of increases.
Thursday's Mortgage Rates newsletter will go out after the Reserve Bank's Official Cash Rate announcement at 9am.
We expect the central bank will keep the OCR at 2.50%.
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