News

RBNZ defers start date for new LVR restriction

The Reserve Bank is deferring the start of the proposed changes to investor loan-to-value restrictions (LVRs) nationwide from 1 September to 1 October 2016, based on feedback from the banking industry from its recent consultation on the proposals.


What the Reserve Bank said about interest rates

RESIMAC partners with financial advisory firm

RESIMAC has done its first white label distribution deal offering home loans to financial advisers through Wellington-based firm Grosvenor Financial Services.

ASB profits up; Not worried about Auckland house prices

Growth in its lending book has helped ASB report a sixth-straight annual profit increase while net interest margins have been squeezed.

RESIMAC makes important changes to rates and fees (+ VIDEO)

RESIMAC says it will continue lending up to 80% but it is making some changes to its products and pricing to help manage the mix of owner-occupied lending and property investment loans.

Today's Rate Changes
  • One and two year fixed rates preferred

    ANZ economists have reiterated their view that one and two year fixed rate home loans offer the best value at the moment.

    Rates on on longer-term home loans have remained unchanged despite a mild rise in wholesale interest rates. Although the latter might ordinarily flag a lift in fixed mortgage rates, the Reserve Bank’s reiteration that the OCR will likely go lower in November should cap wholesale rates and keep a lid on term mortgage rates.

    "With little on the visible horizon to drive global interest rates markedly higher and the RBNZ flagging rates being low for quite a period, we prefer to target low cost 1-2 year fixed rates," they say.