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.
Big bank leads off the rises
Even though the Reserve Bank raised rates on Wednesday, it is only this morning that the first major bank, WestpacTrust has raised its floating mortgage rate.
Median house price leap
As if to vindicate Reserve Bank governor Don Brash’s decision to raise interest rates, the latest real estate sales figures show the median house price at a record in February and sales activity at its strongest since March 1996.
Rate rise surprises, mortgage rates to rise
Contrary to most economists’ expectations, Reserve Bank governor Don Brash raised his official cash rate (OCR) from 4.75% to 5%, citing a stronger than expected New Zealand economy and a less threatening global economy.
No agreement on rate rise
For once economists are unsure what the Reserve Bank will do with rates on Wednesday when it makes its Monetary Policy Statement.
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