Search

Search News Search Questions

News > Mortgages > Float no more?

Mortgages

Float no more?

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.

Tuesday, March 02nd 2010

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%.

 

 

Next Article

Momentum building in house market, according to ANZ

Most Read

1 Interest rate expectations: It’s not over yet

2 [OPINION] Recessionary times

3 A better investment market

4 Rate cuts needed to lift mood

5 Support for regulation

See more News >

Top Mortgage Rates

SBS FirstHome Combo 6.74
Heartland Bank - Online 6.89
Wairarapa Building Society 6.95
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.55
SBS Bank Special 6.69
TSB Special 6.75
Westpac Special 6.75
China Construction Bank 6.75
ICBC 6.75
AIA - Go Home Loans 6.75
ASB Bank 6.75
Unity 6.79
Co-operative Bank - Owner Occ 6.79
SBS Bank Special 6.19
ASB Bank 6.39
Westpac Special 6.39
AIA - Go Home Loans 6.39
China Construction Bank 6.40
ICBC 6.49
Kiwibank Special 6.55
BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
TSB Special 6.59
SBS Bank 6.79
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

Full Rates Table

More Stories

Rate cuts needed to lift mood

Wednesday, April 17th 2024

Rate cuts needed to lift mood

The enthusiasm that followed the change in government, mainly from property investors, has waned as homeowners and buyers hang out for interest rate cuts, says Kiwibank.

Support for regulation

Monday, March 18th 2024

Support for regulation

REINZ has emphasised the need for property management regulation to Parliament’s Social Services and Community Committee.

A better investment market

Thursday, March 14th 2024

A better investment market

“Reinstatement of interest deductibility starting from the new tax year on 1 April brings property investors back in line with every other business in the country, where interest costs are a legitimate deductible expense," Tim Horsbrugh, New Zealand Property Investors Federation (NZPIF) executive committee member says.

[OPINION] Recessionary times

Thursday, March 14th 2024

[OPINION] Recessionary times

It is not the best out there for many businesses and property sector people. Sales are down across the board, our clients’ confidence is falling, and there is a lot of uncertainty.

Landlords
© 2024 Tarawera Publishing Ltd.