Banks in mortgage rate stand-off
Thursday, June 17th 2010, 12:14PM
There's no doubt about it - changes to floating rates will come.
Usually floating rates move in tandem with changes to the Official Cash Rate (OCR) as seen here, but no lender has increased its floating rate since the Reserve Bank made changes last week as no-one wants to make the first move.
This weeks graph looks at the margin between floating rates and the OCR over recent years.
In Expert Views, ANZ says now that the Reserve Bank has started the hiking cycle, July and September OCR hikes are almost certain, with late 2010 and early 2011 hikes dependant on global developments.
A survey by Landlords.co.nz shows that if the Budget was designed to put residential property investors off their stride then it appears to have failed and The Landlord blogs on why it is good that some investors are selling.
Also, NZF has completed its $100 million fund securitisation which means it will soon be actively in the market chasing home loan business.
| « Don’t panic about the OCR increase | ASB leads the charge » |
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