BREAKING: OCR 5.50% - Inflation Approaching Target Range

The Monetary Policy Committee today agreed to maintain the Official Cash Rate at 5.50 percent.

Expectation of Nov rate cuts prompts record short rate borrowing

Borrowers taking out mortgages for six months rose to a new high in May, in anticipation of interest rate cuts soon.

Reserve Bank expected to stick to its knitting

The Reserve Bank is not expected to give a dovish tilt at its Monetary Policy Review supporting the markets recent pricing of a 60% easing of the OCR in October with about 38 basis points priced in by the end of the year.

Banks bringing OCR cut expectations forward

ASB is joining Kiwibank in expecting OCR cuts starting from November this year.

Today's Rate Changes
  • One bank cuts home loan rates

    Westpac has cut three of its home loan terms between 10 and 25 basis points.

    The biggest cut is to its one-year rate which is down to 6.89% and 7.49% for its Special and Standard rates respectively.

    To see how it stacks up against other lenders check our table here where we have sorted on lowest to highest one-year rate.


Sponsored by:

Property News

Predictions cut for rising house prices

Predictions cut for rising house prices

Two of the country’s major banks have slashed their house price growth forecasts for the rest of the year.

Alternative to first home grant

Alternative to first home grant

Auckland-based entrepreneur Derek Handley has set up a privately funded financial services group offering an alternative first home loan scheme.

Growing number of property investment dollars moving across the ditch

Growing number of property investment dollars moving across the ditch

More needs to be done to offset the loss of millions of dollars in property and business investments to Australia caused by a growing exodus of wealthy Kiwis, says an industry expert.

Top Mortgage Rates

SBS FirstHome Combo 6.14
Unity First Home Buyer special 6.55
Co-operative Bank - First Home Special 6.79
Heartland Bank - Online 6.89
Westpac Special 6.89
Wairarapa Building Society 6.95
TSB Special 6.99
Unity 6.99
Co-operative Bank - Owner Occ 6.99
Kiwibank Special 6.99
ICBC 7.05
Unity First Home Buyer special 6.45
SBS Bank Special 6.49
Heartland Bank - Online 6.55
ICBC 6.69
AIA - Go Home Loans 6.75
TSB Special 6.75
Westpac Special 6.75
ASB Bank 6.75
China Construction Bank 6.75
Co-operative Bank - Owner Occ 6.79
Kiwibank Special 6.79
SBS Bank Special 6.19
AIA - Go Home Loans 6.39
Westpac Special 6.39
ICBC 6.39
ASB Bank 6.39
China Construction Bank 6.40
Kiwibank Special 6.55
Co-operative Bank - Owner Occ 6.55
BNZ - Classic 6.55
TSB Special 6.59
SBS Bank 6.79
AIA - Back My Build 6.19
SBS FirstHome Combo 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 - Standard 8.40
Co-operative Bank - Owner Occ 8.40
Kiwibank 8.50
First Credit Union Standard 8.50
Sponsored by:

People News

NZFSG adds technology and innovation leader to its board

NZFSG adds technology and innovation leader to its board

NZ Financial Services Group adds a tech guru to its board.

Liberty adds a Wellington-based BDM

Liberty adds a Wellington-based BDM

LoanOptions gets new local BDM

LoanOptions gets new local BDM

LoanOptions expands its New Zealand team.

Sponsored by:

KiwiSaver News

Select committee against bill to limit use of KiwiSaver as part of pay package

Select committee against bill to limit use of KiwiSaver as part of pay package

The majority of the Finance and Expenditure Committee doesn’t think a bill to make it harder for employers to include KiwiSaver contributions in employees' pay should be passed.

KiwiSaver reform next steps - bail up a politician

KiwiSaver reform next steps - bail up a politician

The Retirement Commissioner has made her recommendations for improving KiwiSaver and wants help from members of the financial services industry to get politicians to actually read it.

KiwiSaver not hot on Kiwi markets

KiwiSaver not hot on Kiwi markets

KiwiSaver funds under management increased 7.2% for the first quarter of the year (from $107.5 billion to $115.2 billion) to deliver 18.6% over the previous 12 months, but the value of NZ assets fell for the quarter.