Results: OCR
Big banks join the rate war, dropping below 3%
As expected, the big banks are starting to drop their rates further to reach below 3%, and today ASB announced its two-year fixed ...
Economic Outlook - Negative OCR?
As the country settles into Alert Level Three, we’re starting to see signs of the beginning of our economic recovery. There have b...
End of week rate roundup
Kiwibank and ANZ are the first to respond to the slashed OCR (earlier this week) which went from 1% to 0.25%. Here's the latest.
Post OCR slash: mortgage rate update
It's been two days since the emergency OCR cut, which saw our already low rate go from 1% to 0.25%. So how does this translate into mortgage rates?
Emergency OCR cut
The Reserve Bank of New Zealand (RBNZ) announced early this morning that a 0.75% cut has been enforced. This takes our already low Official Cash Rate (OCR) of 1% down to 0.25% and will likely remain this low for at least 12 months.
More mortgage rate cuts
ASB and Sovereign have both announced their new two-year fixed interest rates of 3.39%. TSB is also offering the same interest rate, through their 'Price Match Promise'.
Mortgage rate update
Despite the next OCR announcement being a couple of weeks away still, it seems that banks are already starting to lower their mortgage rates in anticipation of a cut.
