News
Rates change all the time. Keep up to date with the latest activity so you can manage your mortgage and pay-it-off faster.
OCR Increases to 5.5 per cent
The Reserve Bank issued the following press release announcing a further increase in the official cash rate today.
OCR rises, mortgage rates may not
Acting Reserve Bank governor Rod Carr has raised interest rates, as expected, but not as much as some economists had predicted.
Mortgage lending grows but other lending grows faster
While mortgage lending grew in 2001 and still dominates New Zealand bank’s loan books, it declined as a proportion of total lending assets, according to KPMG’s latest annual survey of financial institutions.
Question marks over size of rates rise
Just about everybody expects the Reserve Bank to raise interest rates on Wednesday for a third time this year. The only argument is over whether the official cash rate (OCR) will rise from 5.25% to 5.5% or to 5.75%.
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