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Gloomier view of growth rates

Economic growth is forecast to fall short of expectations set earlier this month by the Reserve Bank, economists say.

Monday, September 22nd 2003, 9:26AM

by The Landlord

While one bank is picking strong domestic demand to deliver higher growth in the second half of the year, another looked further ahead to mid-2004 and predicted annual growth would halve to 2.5 per cent.

ASB Bank expects gross domestic product (the value of goods and services produced in New Zealand) to increase by 0.1 per cent in the three months to June when the data is reported on Friday. This is below the 0.4 per cent rise the Reserve Bank anticipated. At that rate, annual gdp growth would drop from 4.4 per cent in the March quarter to 3.9 per cent.

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Lender Flt 1yr 2yr 3yr
AIA - Back My Build 3.34 - - -
AIA - Go Home Loans 5.89 4.65 5.25 5.49
ANZ 5.79 ▲5.39 ▲6.09 ▲6.29
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - ▲4.79 ▲5.49 ▲5.69
ASB Bank 5.79 4.65 5.25 5.49
ASB Better Homes Top Up - - - 1.00
Avanti Finance - Near Prime 6.35 - - -
Avanti Finance - Specialised 7.45 - - -
Basecorp Finance 6.35 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One 5.94 - - -
BNZ - Rapid Repay 5.94 - - -
BNZ - Std 5.84 4.65 5.19 5.39
BNZ - TotalMoney 5.94 - - -
CFML 321 Loans 3.95 - - -
CFML Home Loans 6.05 - - -
CFML Prime Loans 6.25 - - -
CFML Standard Loans 6.95 - - -
China Construction Bank 6.44 4.85 4.95 4.95
China Construction Bank Special 6.44 5.85 5.95 5.95
Co-operative Bank - First Home Special - 4.55 - -
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Owner Occ 4.99 4.65 5.29 5.49
Co-operative Bank - Standard 4.99 5.15 5.79 5.99
Credit Union Auckland 7.70 - - -
First Credit Union Special - ▲5.09 5.49 -
First Credit Union Standard 6.49 ▲5.69 ▲6.09 -
Heartland Bank - Online ▲5.80 5.89 - -
Heartland Bank - Reverse Mortgage 7.99 - - -
Heretaunga Building Society 6.50 5.50 5.65 -
ICBC 5.39 4.49 ▲4.99 ▲5.25
Kainga Ora 5.79 4.59 4.95 5.19
Kainga Ora - First Home Buyer Special - - - -
Lender Flt 1yr 2yr 3yr
Kiwibank 5.75 5.65 6.19 6.35
Kiwibank - Offset 5.75 - - -
Kiwibank Special 5.75 4.75 5.29 5.55
Liberty 6.65 6.55 6.22 6.20
Nelson Building Society 6.49 4.69 5.09 -
Pepper Money Near Prime 6.55 - - -
Pepper Money Prime 5.99 - - -
Pepper Money Specialist 8.00 - - -
SBS Bank 5.84 5.29 5.79 5.99
SBS Bank Special - 4.69 5.19 5.39
SBS Construction lending for FHB 3.74 - - -
Lender Flt 1yr 2yr 3yr
SBS FirstHome Combo 3.29 4.19 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 7.99 - - -
TSB Bank 6.59 5.49 6.05 6.29
TSB Special 5.79 4.69 5.25 5.49
Unity First Home Buyer special - 4.09 - -
Unity Special 5.79 4.80 5.29 -
Unity Standard 5.79 5.60 6.09 -
Wairarapa Building Society 6.15 4.95 5.45 -
Westpac 5.89 5.39 5.79 6.09
Westpac Choices Everyday 5.99 - - -
Lender Flt 1yr 2yr 3yr
Westpac Offset 5.89 - - -
Westpac Special - 4.79 5.19 5.49
Median 5.94 4.80 5.45 5.49

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