Borrowers will be excited to see that the floating, six-month and one-year rate medians for the banks are all below 6% as a result of the Reserve Bank cutting the official cash rate (OCR) to 2.50% yesterday.
The OCR is now back to the record lows which followed the global financial crisis and as a result a large boost of confidence has been delivered to the economy.
| « Fixed rates cut by 16 lenders |
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