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: Tuesday, April 23rd, 6:36PM

Mortgages

Mortgage Rates Daily Commentary
Tuesday 23 April 2024  Add your comment
Move to short term but higher rates; New aggregator for Vega

Short term fixed rate loans surged in the first few months of the year. [READ ON]

Vega Mortgages is joining forces with the nation’s newest aggregator Finsure. [Read on]

Lifetime Home is the latest innovation from retirement income specialists, Lifetime Retirement Income.

Join Lifetime’s founder and managing director, Ralph Stewart and Chief Marketing Officer, Chelsea Devlin at one of six master classes to find out everything you need to know about Lifetime Home.

Register today to secure your spot for 1 May at Level 30, PwC Tower, 15 Customs Street West, Auckland  [Click here]

 

rss
Latest Headlines

New RBNZ governor not likely to wheel out rate cut

Economists don’t expect anything drastic from the new Reserve Bank governor at his first official cash rate announcement on Thursday.

Wednesday, October 24th 2012, 6:38AM

by Susan Edmunds

Of the 11 economists polled by www.mortgagerates.co.nz, all expect the rate to be kept unchanged at 2.5%.

It had been suggested that lower than expected inflation figures might prompt a reduction in the rate but most of the economists said that the probability of Graeme Wheeler keeping the rate on hold was 90% or more.

The exceptions were Paul Bloxham of HSBC, who said the chance was only 60% and Matt Sturmer, of Forsyth Barr, who said it was 80%. Mark Lister, of Craigs Investment Partners, was the only economist 100% sure that the rate would remain unchanged on Thursday.

All of the economists surveyed expected the next movement of the OCR to be up 25 basis points, to 2.75%, although Chris Green, of FNZC said there was a 5% chance of a 25 basis point cut this time.

Lister said he couldn’t see a change happening this week because the governor is new in his role and not much has changed since the last OCR announcement.

“Inflation is relatively benign and there’s a bit of stability in the global market. It’s definitely not going up. You could build an argument for them slightly reducing it but I think with all the things America has on its plate over the rest of the year the new governor would take the view that even if he did think there was a case for reducing it, he’ll watch and wait and keep some power dry in case he needs it later in the year.”

Sturmer said there was an element of uncertainty because this will be Wheeler’s first OCR announcement. “He may want to put his mark on things but these guys generally like to follow the course of action set by others.”

Sturmer said if the rate were to move this week, it could only be down. “If he does have to use a cut he probably wants to do it when it really matters, that’s probably not now.”

When the rate will start to creep up is not clear cut. Helen Kevans, of JP Morgan, expects to see movement in the first quarter of next year, as does Robin Clements of UBS New Zealand. ASB and

FNZC expect change in September next year, while ANZ does not expect the rate to rise until March 2014.

« Credit unions merge and drop fixed ratesNew governor leaves OCR alone »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 6.19 - - -
AIA - Go Home Loans 8.74 7.24 6.75 6.65
ANZ 8.64 7.84 7.39 7.25
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 7.24 6.79 6.65
ASB Bank 8.64 7.24 6.75 6.65
ASB Better Homes Top Up - - - 1.00
Avanti Finance 9.15 - - -
Basecorp Finance 9.60 - - -
Bluestone 9.24 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - 7.24 6.79 6.65
BNZ - Green Home Loan top-ups - - - 1.00
BNZ - Mortgage One 8.69 - - -
BNZ - Rapid Repay 8.69 - - -
BNZ - Std, FlyBuys 8.69 7.84 7.39 7.25
BNZ - TotalMoney 8.69 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 7.04 - -
Co-operative Bank - Owner Occ 8.40 7.24 6.79 6.65
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 7.74 7.29 7.15
Credit Union Auckland 7.70 - - -
First Credit Union Special - 7.45 7.35 -
First Credit Union Standard 8.50 7.99 7.85 -
Heartland Bank - Online 7.99 6.69 6.45 6.19
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.60 7.40 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 7.05 6.75 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.79 7.39 7.25
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 8.25 7.79 7.55
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 7.25 6.79 6.65
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.75 7.35 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
Resimac - LVR < 80% 8.84 8.09 7.59 7.29
Lender Flt 1yr 2yr 3yr
Resimac - LVR < 90% 9.84 9.09 8.59 8.29
Resimac - Specialist Clear (Alt Doc) - - 8.99 -
Resimac - Specialist Clear (Full Doc) - - 9.49 -
SBS Bank 8.74 7.84 ▼7.29 ▼6.59
SBS Bank Special - 7.24 ▼6.69 ▼5.99
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 6.74 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 8.04 7.55 7.45
Lender Flt 1yr 2yr 3yr
TSB Special 8.64 7.24 6.75 6.65
Unity 8.64 6.99 6.79 -
Unity First Home Buyer special - - 6.45 -
Wairarapa Building Society 8.60 6.95 6.85 -
Westpac 8.64 7.89 7.35 7.25
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - 7.29 6.75 6.65
Median 8.64 7.29 7.29 6.65

Last updated: 22 April 2024 9:06am

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  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com