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Float no more?Tuesday 2 March 2010 After months of borrowing advice saying floating rates are the way to go, there has been a change of tune from BNZ economist Tony Alexander. He now says the time may have come to fix rates at one or two-years. We also have a new graph up showing the significant movement in mortgage interest rates that has been experienced within past decade. In mortgage rates changes Westpac shimmied up its six-month rate last Friday by six basis points to 5.75% and cut its one-year rate by four basis points to 6.25% bringing it in line with the median rate for the major banks. It also reduced its revolving credit rate to 5.65%. In Expert Views most economists have been looking at what will happen at next Thursday's Official Cash Rate (OCR) announcement and across the ditch the Reserve Bank of Australia (RBA) pushed up its official cash rate by 0.25% after a pause in February to 4%.
Comments from our readersNo comments yet Add your comment:Showcase Auckland hotel Westin Lighter Quay in chaos One of Auckland's top hotels, the Westin Lighter Quay, is in chaos as unit titleholders and receivers square off over access to and revenue from 114 of its 172 rooms and its bar, restaurant and retail areas. Soft housing activity predicted for the rest of the year amid weak REINZ data Economists are predicting the housing market will stay soft for the rest of the year after Real Estate Institute data showed sales volumes stayed under pressure last month. Review may give investors some depreciation relief Commercial and industrial property investors should still be able to claim significant depreciation allowances, an asset depreciation expert says. |
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