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: Saturday, October 31st, 10:55AM

Mortgages

Mortgage Rates Daily Commentary
Friday 30 October 2020  Add your comment
Avanti raises $50 million; ANZ profits fall on writedowns

Non-bank lender Avanti Finance has raised $50 million to fund its expansion, amid growing interest in alternative lenders: [READ ON]

ANZ New Zealand profits took a 27% hit in the year to September after writing off $401 million in loans: [READ ON]

rss
Latest Headlines

Hold the hikes NZIER says

The New Zealand Institute of Economic Research sees slow economic growth for the next couple of years and expects the Reserve Bank to keep interest rates low until June next year.

Wednesday, August 31st 2011, 9:38PM

This view is in marked contrast to what other economists are thinking. The most recent mortgagerates.co.nz survey of economists shows the majority thing the next OCR will be 50 basis point in December.

NZIER says future interest rate increases should be delivered “cautiously” with most mortgages on short-term or floating rates, and every 1 percentage point increase will add an extra $1.4 billion to the mortgage bill.

The vulnerabilities in the global economy and the strong New Zealand dollar mean the Reserve Bank will probably keep the official cash rate at a record-low 2.5% until June next year, according to the NZIER’s quarterly predictions.
“The New Zealand economy is on the mend, but weak global growth is threatening the recovery,” principal economist Shamubeel Eaqub said. “An abrupt slowdown in the Australian economy, renewed recession fears in the US, and a spreading sovereign debt crisis in Europe will soften global growth.”

The NZIER expects economic growth of just 1.4% this calendar year, and 2.6% in 2012 as households keep repaying debt and refrain from spending too much. That’s softer than the Reserve Bank’s June forecasts for the same period, which were picking growth of 2.8% and 4.7% respectively.

The Treasury was picking 4.7% growth for the 12 months through March 2012 and 6.4% expansion the following year in its budget forecasts.

« TSB and SBS banks show divergent trendsWill fixing become normal again? »

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 4.55 2.55 2.69 2.79
ANZ 4.44 ▼3.09 3.25 3.39
ANZ Special - ▼2.49 2.69 2.79
ASB Bank 4.45 2.55 2.69 2.79
Bluestone 3.49 3.49 3.49 3.49
BNZ - Classic - 2.55 2.69 2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 3.15 3.29 3.39
BNZ - TotalMoney 4.55 - - -
CFML Loans 4.95 - - -
Lender Flt 1yr 2yr 3yr
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 2.95 3.45 -
Heartland 3.95 2.89 2.97 3.39
Heartland Bank - Online 2.95 1.99 2.35 2.45
Heretaunga Building Society 4.99 3.50 3.40 -
HSBC Premier 4.49 2.45 2.60 2.65
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 3.69 2.45 2.65 2.79
Kainga Ora 4.43 2.93 3.07 3.24
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 3.40 3.30 3.54 3.54
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.55 2.79 2.79
Liberty 5.69 - - -
Nelson Building Society 4.95 3.45 3.49 -
Pepper Essential 4.79 - - -
Resimac 3.39 3.35 2.99 3.35
Lender Flt 1yr 2yr 3yr
SBS Bank 4.54 3.05 2.99 2.99
SBS Bank Special - 2.55 2.49 2.49
The Co-operative Bank - First Home Special - - - -
The Co-operative Bank - Owner Occ 4.40 ▼2.49 2.69 2.79
The Co-operative Bank - Standard 4.40 ▼2.99 3.19 3.29
TSB Bank 5.34 3.29 3.45 3.59
TSB Special 4.54 2.49 2.65 2.79
Wairarapa Building Society 4.99 3.55 3.49 -
Westpac 4.59 3.09 3.29 3.39
Westpac - Offset 4.59 - - -
Westpac Special - 2.49 2.69 2.79
Median 4.55 2.94 2.99 2.80

Last updated: 29 October 2020 5:00am

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
 
Site by Web Developer and eyelovedesign.com