About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Tuesday, December 10th, 6:02PM
Mortgage Rates Daily Commentary
Tuesday 10 December 2019  Add your comment
SHARE becomes mortgage aggregator

Co-operative adviser group SHARE has become a mortgage aggregator in its own right after ending ties with The Mortgage Supply Company. [READ ON]

rss
Latest Headlines

Economists predict OCR cut

Economists are unanimously expecting the official cash rate to be cut next week.

Friday, September 4th 2015, 3:30PM

by Susan Edmunds

The Reserve Bank will announce its decision on Thursday.

It comes amid an increase in competition in the mortgage market.

BNZ announced a new one-year rate today of 4.35%, which is the lowest advertised rate on record.

Kiwibank said it had plans to respond with “marketing initiatives” next week.

All of the economists surveyed by Mortgagerates.co.nz expected an interest rate cut of 25bps, which would take the OCR to 2.75%.

ASB chief economist Nick Tuffley said he then expected the bank to signal a further move was likely, to 2.5%.

Westpac chief economist Dominick Stephens has previously forecast an OCR of 2%.

He said he was comfortable with the idea that, sooner or later, the Reserve Bank would have to cross the 2.5% threshold.

“New Zealand is entering a significant economic slowdown at a time when core inflation is already well below the RBNZ’s target, meaning monetary policy has a great deal of work to do,” he said.

“We do not believe that the falling exchange rate will generate enough inflation to meet the RBNZ’s medium-term target. We are forecasting consecutive 25bps OCR cuts between September and January.

"This would take the OCR to a new all-time low of 2.0%. But at this stage the RBNZ does not share our view, and that creates a risk that the OCR takes longer to get to 2%.”

Donal Curtin, of Economics New Zealand, said it would be interesting to see how the Reserve Bank navigated the balance between managing too-low inflation and a hot housing market in Auckland.

“I wouldn’t be surprised if they pointed out that there is more to the economy than dairy prices.”

Robin Clements, of UBS, said the focus of the OCR announcement next week would be on the outlook for inflation.

“If the forecast is that inflation will be back near mid-point by first half of 2016, then there is unlikely to be further cuts.

"RBNZ may leave the door open, saying 'some further easing may be required' depending upon data-flow."

ANZ expects the Reserve Bank to completely unwind all of last year’s rate hikes.

Tags: OCR OCR forecasts

« BNZ rate will get brokers' phones ringingLending up but profits flat »

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 4.05 ▲4.05 4.49
ANZ Special - 3.55 ▲3.55 3.99
ASB Bank 5.20 3.89 4.05 4.39
ASB Bank Special - 3.39 3.55 3.89
BNZ - Classic - 3.49 3.45 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 5.65 4.75 4.75 -
Credit Union North 6.45 - - -
Credit Union South 5.65 4.75 4.75 -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.80 4.95 -
HSBC Premier 5.24 3.54 3.54 3.69
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 4.04 3.95 4.39
Kiwibank ▼5.20 ▲4.20 4.30 4.64
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - ▲3.45 3.55 3.89
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.25 4.15 -
Pepper Money Near Prime 5.64 - 5.44 5.44
Lender Flt 1yr 2yr 3yr
Pepper Money Prime 5.18 - 4.98 4.98
Pepper Money Specialist 7.59 - 7.39 7.39
Resimac 4.50 4.86 3.89 3.94
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - ▼3.39 3.45 3.89
Sovereign 5.30 ▼3.89 ▼4.05 ▼4.39
Sovereign Special - ▼3.39 ▼3.55 ▼3.89
The Co-operative Bank - Owner Occ 5.15 3.49 3.59 3.89
The Co-operative Bank - Standard 5.15 3.99 4.09 4.39
TSB Bank 6.09 4.35 4.25 4.69
Lender Flt 1yr 2yr 3yr
TSB Special 5.29 3.55 3.45 3.89
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.34 4.15 4.09 4.49
Westpac - Offset 5.34 - - -
Westpac Special - 3.39 3.45 3.99
Median 5.34 3.99 4.07 4.39

Last updated: 9 December 2019 9:02am

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