Sitting back and taking a calm attitude
Westpac is sticking to its forecast of a 3.25% OCR bottom.
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More OCR cuts on the cards later this year
ANZ is adding two more OCR cuts to its economic forecast after next month’s expected drop to 3.25%.
Big increase in home loans made by banks
Despite a recession, the number and value of home loans were up by 21% in the second half of last year, compared to the first half.
The flow through of lower mortgage rates
Although carded one- and two-year fixed mortgage rates are now about 200 basis points (bp) below last year’s high the vast majority of lower mortgage rates have yet to flow though.
Time for FMA to put an end to banks’ pathetic excuses over OCR delays
Lobby group the Banking Reform Coalition wants the FMA to use its powers under the new Conduct of Financial Institutions (CoFI) regime to get tough on banks not passing on OCR cuts in mortgage rates immediately.
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Property News
Leaving last year's stumbling housing market behind
As interest rates ease and job losses climb, New Zealand’s housing market faces a mixed year of modest growth, with conflicting forces shaping the outlook for homebuyers and investors.
Don’t bet on house prices rising faster than incomes
Former Reserve Bank Governor and National Party leader Don Brash says there are grounds for believing that house prices may finally have ended the three-decade period when they rose significantly faster than incomes.
Similar Price Growth
Although houses prices typically rise more than apartments over the long-term, the gap is not as wide as many people expect.
Top Mortgage Rates
| SBS FirstHome Combo | 4.39 |
| Unity First Home Buyer special | 4.69 |
| Co-operative Bank - First Home Special | 4.89 |
| AIA - Go Home Loans | 4.99 |
| TSB Special | 4.99 |
| Kiwibank Special | 4.99 |
| Westpac Special | 4.99 |
| ICBC | 4.99 |
| Co-operative Bank - Owner Occ | 4.99 |
| ANZ Special | 4.99 |
| ASB Bank | 4.99 |
| Nelson Building Society | 4.97 |
| AIA - Go Home Loans | 4.99 |
| Wairarapa Building Society | 4.99 |
| Unity | 4.99 |
| TSB Special | 4.99 |
| Kiwibank Special | 4.99 |
| Kainga Ora | 4.99 |
| ICBC | 4.99 |
| Westpac Special | 4.99 |
| ANZ Special | 4.99 |
| ASB Bank | 4.99 |
| Westpac Special | 5.39 |
| ICBC | 5.49 |
| BNZ - Classic | 5.59 |
| SBS Bank Special | 5.69 |
| AIA - Go Home Loans | 5.69 |
| Co-operative Bank - Owner Occ | 5.69 |
| ASB Bank | 5.69 |
| Kainga Ora | 5.79 |
| BNZ - Std | 5.79 |
| Kiwibank Special | 5.89 |
| TSB Special | 5.89 |
| SBS FirstHome Combo | 4.19 |
| AIA - Back My Build | 4.44 |
| CFML 321 Loans | 5.25 |
| Co-operative Bank - Owner Occ | 6.20 |
| Co-operative Bank - Standard | 6.20 |
| Heartland Bank - Online | 6.25 |
| Kiwibank Special | 6.50 |
| Kiwibank | 6.50 |
| Kiwibank - Offset | 6.50 |
| TSB Special | 6.64 |
| Unity | 6.64 |
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People News
Avanti Finance expands property team
Avanti Finance expands property team with new business development manager.
FMT adds new Auckland BDM
FMT strengthens its presence in the Auckland market with a new business development manager.
Alpha First lures 20-year ANZ stalwart
Bruce Bodley-Davies has been appointed Investor Relations Manager at Alpha First.
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Milford's KiwiSaver shines while ANZ enjoys a rare March qtr
Milford Asset Management’s KiwiSaver funds enjoyed a better performance than all other KiwiSaver funds in the March quarter but returns were generally poor, the latest Melville Jessup Weaver survey shows.
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KiwiSaver or KiwiTaxer? The changes high on adviser wishlists
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Westpac Holds Steady While Others Blink
While other banks are predicting more aggressive OCR cuts, Westpac is keeping calm and carrying on with a 3.25% bottom forecast. Chief economist Kelly Eckhold says there’s no need for knee-jerk reactions just yet. [READ MORE]