Rates change all the time. Keep up to date with the latest activity so you can manage your mortgage and pay-it-off faster.
Fixed mortgage interest rates on a timer
Wholesale interest rates in NZ fell to record low levels around October last year. Since then however, we have seen a radical shift in expectations for growth, inflation, and monetary policy settings around the world on the back of three key developments.
OCR remains unchanged, RBNZ to keep monetary policy steady
There's no reason for strongly believing that we face a future of sustained high inflation which will require an interest rate crunch. But borrowers should pay attention to the upside risks and the extreme uncertainty regarding how far and fast rates rise.
New borrowers will pay more
If borrowers are approaching taking on a new mortgage with a view (conscious or not) that rates tend to fall over time and debt management is made easy, they had best think again.
Higher interest rates for property investors unlikely
Reserve Bank decide it will help first home buyers by slugging investors regardless of their risk profile? No; they are not charged with social engineering. If the Government wants to bias the housing market, it will need to make its own changes.