Significant number of borrowers still hanging out for OCR cuts
Even though the OCR didn’t budge yesterday, a sizeable chunk of mortgage holders are expected to keep fixing at floating rates in the hope there will be further cuts.
The RBNZ held the OCR at 3.25% and indicated it will probably cut again next month if the data flow and other developments over the next six weeks meet expectations.
Most banks have already pencilled in a further 0.25% cut next month and maybe a further one at the end of the year. In its outlook the ANZ has even dropped in a third cut for February next year.
The OCR has declined...MORE»
Mortgage rates may have bottomed already as RBNZ holds OCRWednesday, July 9th, 3:03PM
While there’s debate within the Reserve Bank’s monetary policy committee about where interest rates are headed, mortgage rates have either bottomed already or have only a little further to fall, says Kiwibank chief economist Jarrod Kerr. MORE» |
[BREAKING NEWS] What the RBNZ said today about interest ratesWednesday, July 9th, 2:00PM
The Monetary Policy Committee today agreed to hold the Official Cash Rate at 3.25%. Here's why in its own words. MORE» |
KAN's AB joins up with another group
Kiwi Adviser Network's one authorised body is moving to SHARE, but will keep aggregating through KAN.
MORE»Asset prices and spending going nowhere
Falling interest rates might not be sufficient to boost spending, the BNZ says.
MORE»The OCR gravy train is slowing
Common expectations among economists is the OCR will not budge from 3.25% at next week’s RBNZ meeting.
MORE»Mortgage arrears still challenging
Data from credit bureau Centrix and the RBNZ show different pictures for mortgage arrears.
MORE»Little growth for the rest of this year expected
Advisers already under pressure over bank turnaround times and the rising number of mortgage applications can expect more of the same as house prices flatten.
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