OCR at 18 months low at 4.75%
The Reserve Bank has lowered its benchmark cash rate by 50 basis points. The central bank reduced the official cash rate (OCR) to 4.75 percent, marking its lowest point in…
Navigating Interest Rates: Uncertainty for Homeowners Looking to Refix Mortgages
Right now, anyone needing to refix their mortgage is facing a tough challenge: trying to predict where interest rates are headed is far from straightforward. While there’s good news that…
BNZ Lowers Mortgage Rates Following OCR Drop and Simplifies Rate Structure
BNZ Lowers Mortgage Rates Following OCR Drop and Simplifies Rate Structure BNZ (Bank of New Zealand) has reduced all its fixed mortgage rates after last week’s decrease in the Official…
First OCR cut in four years!
The Reserve Bank has reduced the official cash rate by 25 basis points, marking the first cut in over four years. This decision comes as the central bank observes cooling…
What to Expect from Next Week’s Official Cash Rate Announcement
The Reserve Bank of New Zealand (RBNZ) will announce its next decision on the Official Cash Rate (OCR) next week. Economists have various predictions and expectations, which could have significant…
Don’t Lock In Long-Term Mortgage Rates Now, Brokers Advise Kiwis
Brokers are advising New Zealanders to avoid locking in long-term mortgage rates, despite major banks offering lower rates right now. They believe it’s better to choose shorter-term rates as borrowing…
Westpac Economists Predict Early Rate Cuts and Rising Unemployment
Westpac economists have updated their predictions, now expecting the Reserve Bank (RBNZ) to cut the Official Cash Rate (OCR) in October and November. They also foresee a significant dip in…
What Inflation Data Means for Interest Rates and Mortgages
In the June quarter, inflation in New Zealand fell more than the Reserve Bank of New Zealand (RBNZ) had anticipated, which could prompt official cash rate (OCR) cuts as early…
ANZ Lowers House Price Growth Forecast, Predicts Earlier OCR Cuts
ANZ has released an update, downgrading its expectations for house price growth this year to 1%, down from the previously forecasted 3%. The bank also anticipates a 4% increase in…
OCR remains unchanged at 5.5 percent!
The Reserve Bank has decided to keep its official cash rate steady at 5.5 percent for the sixth consecutive meeting, citing ongoing efforts to rein in inflation. This decision comes…
The New Zealand Property Report: February 2024
Sun-soaked property market offers opportunities aplenty Stock levels hit an 8-year high as new listing levels bounce back to welcome buyers. Prices remained stable while Kiwis awaited the latest OCR…
OCR unchanged at 5.5% Amid Stubborn Inflation Concerns
In a highly anticipated move, the Reserve Bank of New Zealand has opted to keep the official cash rate steady at 5.5 percent, signalling a cautious stance amidst persistently stubborn…