About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Thursday, July 18th, 2:41PM
Mortgage Rates Daily Commentary
Thursday 18 July 2019  Add your comment
ASB commission changes; Two banks downgraded; New video

ASB changes commission payment system. Will trail comm come? [READ ON]

ANZ and Westpac credit rating outlooks downgraded to 'negative' outlook: Fitch [READ ON]

And we have a new video today. Loan Market, the number one team in Australasia, is looking to recruit a new person. Paulette Trotter talks to Bruce Patten about the business, the volume of loans written and what she is looking for in a new team member. [WATCH IT HERE]

rss
Latest Headlines

Banks follow OCR down

A rush of rate cuts has followed the Reserve Bank decision to cut the official cash rate this morning.

Thursday, September 10th 2015, 10:46AM

by Susan Edmunds

 Governor Graeme Wheeler cut the rate from 3% to 2.75%– a move that had been predicted by the markets.

A flurry of rate cuts followed.

Kiwibank made immediate cuts to its variable and floating rates – taking its floating rate to 5.9% from 6.15%.

ANZ dropped its floating rate to 5.99%.

Westpac cut its variable rate to 6%. It is also running a two-year special of 4.69%.

Earlier, BNZ and ASB rolled out specials of 4.35 per cent for one-year fixed rates.

Some commentators, such as David Hart of Loan Market and Squirrel’s John Bolton have suggested this is about as low as interest rates are likely to fall.

But others say there is some room yet to move.

Mortgage adviser Bruce Patten warned against taking a one-year term. He said borrowers could find the term expired just as rates started to rise again.

“A year is a long time in finance,” he said.

Patten suggested five-year rates could fall below 5%.  The best rate on offer at the moment is 5.09% from ASB.

“If we’re going to end up in a position similar to Australia, in Australia you can get a five-year rate for 4.39%,” Patten said. “We haven’t seen the bottom yet, in my opinion.”

Tags: OCR

« Further OCR cuts to comeKiwibank vies for apartment market »

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 5.69 4.35 4.35 4.55
ANZ Special - 3.85 3.85 4.05
ASB Bank 5.70 4.29 4.35 4.55
ASB Bank Special - 3.89 3.85 4.05
BNZ - Classic - 3.85 3.85 4.05
BNZ - Mortgage One 6.40 - - -
BNZ - Rapid Repay 5.85 - - -
BNZ - Std, FlyBuys 5.80 4.69 4.59 4.79
BNZ - TotalMoney 5.80 - - -
Credit Union Auckland 5.95 - - -
Credit Union Baywide 6.15 4.95 4.95 -
Lender Flt 1yr 2yr 3yr
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 4.60 4.75 -
Housing NZ Corp 5.80 4.69 4.49 4.45
HSBC Premier 5.89 3.79 3.79 3.89
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
Lender Flt 1yr 2yr 3yr
ICBC 5.65 3.85 3.95 3.89
Kiwibank 5.80 4.60 ▼4.60 ▼4.74
Kiwibank - Capped - - - -
Kiwibank - Offset 5.65 - - -
Kiwibank Special - 3.85 ▼3.85 ▼3.99
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 6.10 4.89 4.99 -
Resimac 5.30 4.86 4.14 4.19
RESIMAC Special - - - -
SBS Bank 5.79 4.85 5.05 5.49
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 3.85 3.85 3.99
Sovereign 5.80 4.29 4.35 4.55
Sovereign Special - 3.89 3.85 4.05
The Co-operative Bank - Owner Occ 5.65 3.89 3.89 4.05
The Co-operative Bank - Standard 5.65 4.39 4.39 4.55
TSB Bank 5.69 4.45 4.35 4.55
TSB Special - 3.95 3.85 4.05
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.79 4.69 4.79 5.19
Westpac - Offset 5.79 - - -
Westpac Special - 3.85 3.85 4.05
Median 5.80 4.35 4.35 4.19

Last updated: 15 July 2019 9:47am

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