Mortgages

Get ready for two more rises

Another two interest rate hikes before the end of the year are a strong possibility after the Reserve Bank's hawkish monetary policy statement yesterday.

Monday, September 13th 2004

Governor Alan Bollard raised the official cash rate from 6 per cent to 6.25 per cent - as expected - and warned that further tightening was likely.

"The words promise one more in October, but the numbers are projecting two more," said Westpac chief economist Brendan O'Donovan.

The Reserve Bank has raised its interest rate projections, and now has 90-day rates holding at around 6.75 per cent through next year and 2006.

It predicts the exchange rate will stay high for another six months or so before it declines, and its short-term growth expectations are higher than they were three months ago.

Read More - Opens in a new window
Unity First Home Buyer special 3.99
ICBC 4.25
SBS FirstHome Combo 4.29
Co-operative Bank - First Home Special 4.35
TSB Special 4.39
Co-operative Bank - Owner Occ 4.45
ANZ Special 4.49
ASB Bank 4.49
SBS Bank Special 4.49
Unity Special 4.49
Westpac Special 4.49
Westpac Special 4.45
SBS Bank Special 4.49
BNZ - Std 4.49
Kiwibank Special 4.49
TSB Special 4.49
AIA - Go Home Loans 4.49
ANZ Special 4.49
ASB Bank 4.49
Co-operative Bank - Owner Occ 4.49
ICBC 4.59
Wairarapa Building Society 4.59
SBS Bank Special 4.99
Westpac Special 4.99
ICBC 4.99
BNZ - Std 4.99
AIA - Go Home Loans 5.15
ASB Bank 5.15
Co-operative Bank - Owner Occ 5.19
ANZ 5.39
TSB Special 5.39
Kiwibank Special 5.39
Kainga Ora 5.49
SBS FirstHome Combo 3.44
AIA - Back My Build 3.54
SBS Construction lending for FHB 3.74
CFML 321 Loans 4.25
Co-operative Bank - Owner Occ 5.30
Co-operative Bank - Standard 5.30
ICBC 5.39
Heartland Bank - Online 5.45
Kiwibank - Offset 5.80
Kiwibank 5.80
ANZ 5.89

More Stories

Another swipe at property investors

Thursday, October 30th 2025

Another swipe at property investors

Labour’s capital gains tax of 28% on residential and commercial property won’t deter investors who invest for cashflow, Nick Gentle, iFind Property founder and buyer’s agent says.

Capital gains tax almost irrelevant – English

Monday, October 20th 2025

Capital gains tax almost irrelevant – English

Former Finance Minster Bill English says the days of guaranteed capital gains in the housing market are over,

Thursday, October 09th 2025

New rules for meth contaminated houses

REINZ welcomes regulation of methamphetamine contamination in rental housing.

Spending confidence low and likely to fall further

Thursday, September 18th 2025

Spending confidence low and likely to fall further

More than 40% of households who took part in the latest Westpac McDermott Miller Consumer Confidence say their financial position has deteriorated over the past year.