Floating along

Tuesday, September 6th 2011, 6:40AM

It's still incredibly quiet on the home loan front. Trawling through this week's reports from bank economists reveals little new. The main issue is the turmoil and uncertainty in offshore markets has seen the forecasts for the next OCR increase pushed out.

"This in turn has reduced the upward pressure on mortgage rates evident following July’s OCR Review meaning that, for now, the urgency to shift from floating to fixed has lessened," Westpac says. However it warns the trend of rising rates over the longer term remains intact.

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