About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Sunday, September 22nd, 5:32PM
Mortgage Rates Daily Commentary
Friday 20 September 2019  Add your comment
SBS rate cut; OCR preview

Good morning.

As Spring kicks in, another bank has slashed mortgage rates.

SBS Bank’s 3 year rate drops to 3.89%, level with ASB. Check out our rates table here.

Meanwhile, economists have told us they don’t expect the Reserve Bank to cut the Official Cash Rate next week. See why here: [READ ON].

rss
Latest Headlines

Interest rates on hold for some time

Economists’ predictions that the Reserve Bank would hold the official cash rate at 3.50% have proved to be correct.

Thursday, September 11th 2014, 9:01AM

The central bank this morning announced that the OCR would remain unchanged and said it needed more time to monitor earlier monetary policy tightening and the impact of export price reductions before making its next increase.

RBNZ Governor Graeme Wheeler said, in a statement, that more OCR increases are likely.

However he didn’t provide any guidance to when they might come and appears to have toned down the immediacy of any increases.

“We expect some further policy tightening will be necessary to keep future average inflation near the two percent target mid-point to ensure that the economic expansion can be sustained.”

Overall the bank’s plans to keep inflation under control appear to be working, but there continues to be some “uncertainties” it wants to monitor.

“The economy appears to be adjusting to the policy measures taken by the bank over the past year,” Wheeler says.

“There are signs that the OCR increases are starting to have the desired effect of slowing growth in demand to a more sustainable rate, and keep inflation and inflation expectations well anchored.”

The bank says it “typically” takes 18 to 24 months for monetary policy to have its full effects.

The key risks the bank sees at the moment how strong net migration will impact the housing market and how pressures in the construction sector will impact broader inflation.

Wheeler again reiterated that the exchange rate was too high.

“Its current level remains unjustified and unsustainable.”

“We expect a further significant depreciation, which should be reinforced as monetary policy in the US begins to normalise.”

The Reserve Bank is forecasting that the economy is expected to grow at an annual pace of 3.7% over this year. This growth will be supported by increasing construction activity and on-going strength in consumption and business investment.

« Not much flavour expected in OCR announcementWhat the Reserve Bank said - Sept »

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
ANZ 5.19 4.15 ▼4.04 4.49
ANZ Special - 3.65 ▼3.54 3.99
ASB Bank 5.20 4.15 4.09 4.39
ASB Bank Special - 3.65 3.59 3.89
BNZ - Classic - 3.65 ▼3.49 3.99
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 3.19 3.19 3.19
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 5.95 - - -
Credit Union Baywide 6.15 4.95 4.95 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.80 4.95 -
Housing NZ Corp 5.19 ▼4.15 ▼4.09 ▼4.39
HSBC Premier 5.24 3.35 3.35 3.35
Lender Flt 1yr 2yr 3yr
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 5.65 3.85 3.95 3.89
Kiwibank 5.80 4.30 4.34 4.74
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - 3.55 3.59 3.99
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.69 4.79 -
Resimac 5.30 4.86 4.14 4.19
Lender Flt 1yr 2yr 3yr
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - 3.69 3.69 ▼3.89
Sovereign 5.30 4.15 4.29 4.55
Sovereign Special - 3.65 3.75 4.05
The Co-operative Bank - Owner Occ 5.15 3.65 3.59 3.99
The Co-operative Bank - Standard 5.15 4.15 4.09 4.49
TSB Bank 6.09 4.65 4.59 4.85
TSB Special 5.29 3.85 3.79 4.05
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.34 4.15 4.09 4.49
Lender Flt 1yr 2yr 3yr
Westpac - Offset 5.34 - - -
Westpac Special - 3.65 ▼3.54 3.99
Median 5.35 4.15 4.09 4.19

Last updated: 20 September 2019 9:30am

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