News

Lower long-term rates predicted

Advisers and economists have predicted lower interest rates for longer, after Westpac slashed its five year fixed rate by 60 basis points.



Mike Pero v Mike Pero companies – the battle continues

The judge hearing the latest legal battle between Mike Pero and the companies that bear his name struggles to understand how they can work together. Surprisingly one party says yes they should while the other would happily end the relationship. Miriam Bell has been in court and has filed this report.

Consumers expect rate rise: ASB

Respondents to ASB’s latest Housing Confidence Survey expect interest rates to go up in the next 12 months, despite increasingly cautious language from the Reserve Bank.

REINZ data suggests "buyers market" in Auckland

Auckland property is becoming increasingly attractive to buyers, according to ASB, after latest REINZ data revealed flattening prices continued into July.

Mike Pero v MPM $2.5 mill debt fight back in court

The long-running legal dispute over a $2.5 million debt between Mike Pero and the current owners of the mortgage advice firm that has his name has hit the courts once again.

Today's Rate Changes
  • 60 basis point rate cut; Judge calls Pero relationship dysfunctional

    Westpac has made an interesting move slashing 60 basis points off its five year fixed home loan rates. This clearly makes them a leader in this term (even bettering HSBC). The move comes a week after ASB took a market leading position in the four-year term.

    Here is the five-year table sorted lowest to highest.

    We have the next instalment of the Mike Pero court saga (that term is used loosely to include the man himself and some of the companies bearing his name). Clearly the parties can't work together. The judge said she doesn’t see how Mike Pero and MPM/MPMRE could ever continue to work together given the relationship is so dysfunctional.

    Pero himself is willing to exit the “oppressive” partnership – either by selling up or buying out – but the companies lawyer says MPM/RE’s preference is for the partnership to continue.

    Here's our wrap of what's happening.