The impact of Brexit on New Zealand home loan rates is a little unclear at the moment with conflicting initial views. Swap rates came back after the result was known which indicates there maybe some cuts in rates, however one economist suggested rates may rise. We will have more on this later.
We do, for the first time in nearly two-weeks have a number of changes which may also indicate some other changes are coming. Whether these changes are Brexit-related is unclear.
SBS is cutting its six-month rate 24 points, but raising its one-year rate 15 basis points.
Sovereign will be cutting its floating rate to 5.75% on Wednesday. This change would also suggest that ASB, Bank Direct and NZ Home Loans will all follow suit.
Meanwhile, AMP says its one-year mortgage rate is to be cut by 10 basis points to 4.19%. Its two-year rate is rising by 14 points to 4.29%.
To see all the changes and how they compare you will have to go to the full rates table today [GO THERE]
| « SBS reports growth in a difficult year | Special rate rise; OCR cut now more likely; New RB data on loans » |
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