News

Squeeze on mortgage holders deepens

With another 0.75% increase in the OCR seemingly on the cards for February next year after yesterday’s not unexpected 0.75% rise, it is likely fixed mortgage rates will push towards 7% or higher in the next few months, says CoreLogic.



RBNZ hawkish on inflation

Economists say the Reserve Bank's (RBNZ) base interest rate hike was as expected for now, but its forecasts for the future were a surprise.

Biggest OCR rise ever: Here's what the governor said

The Reserve Bank has increased the OCR 75 basis points - its biggest rise ever. Here's why.

Advisers, clients urged to be clear on clawbacks

Mortgage advisers have been told to make sure borrowers fully understand that they can be subject to a clawback fee if a bank loan is paid back early.

Big rise in OCR expected

Banks, brokers and borrowers are braced for the biggest jump the Official Cash Rate (OCR) has experienced since it was inaugurated in 1999.

Today's Rate Changes
  • What the OCR increase means to mortgage holders

    With another 0.75% increase in the OCR seemingly on the cards for February next year after yesterday’s not unexpected 0.75% rise, it is likely fixed mortgage rates will push towards 7% or higher in the next few months, says CoreLogic. [READ ON]

    Also read the economists' comments follow the OCR increase here


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Property News

Apartment development set for third highest record

Apartment development set for third highest record

Tracking by Colliers International research shows over the first nine months of this year 1,159 apartment units were completed in Auckland. A further 1,963 are should be finished  before the end of the year.

Four reasons to get a rental chattels valuation

Four reasons to get a rental chattels valuation

Getting the chattels in a rental property valued is crucial to maximise the amount of cash retainable from the investment.

Broad support for regulation of property mangers

Broad support for regulation of property mangers

Next year’s introduction of a Government bill to regulate property managers has been a long time coming, says the Real Estate Institute of New Zealand (REINZ).

Top Mortgage Rates

SBS FirstHome Combo 4.89
Kainga Ora 5.31
Wairarapa Building Society 5.55
Heartland Bank - Online 5.60
Co-operative Bank - First Home Special 5.69
ICBC 5.75
TSB Special 5.79
Co-operative Bank - Owner Occ 5.79
Unity 5.85
Kiwibank Special 5.89
SBS Bank Special 5.89
Kainga Ora 5.58
Heartland Bank - Online 5.69
Wairarapa Building Society 5.95
ICBC 5.95
Unity 6.05
HSBC Premier 6.09
SBS Bank Special 6.09
BNZ - Classic 6.09
Co-operative Bank - Owner Occ 6.15
TSB Special 6.15
Kiwibank Special 6.15
Westpac Special 6.29
SBS Bank Special 6.29
BNZ - Classic 6.29
TSB Special 6.39
Kiwibank Special 6.39
ICBC 6.39
Co-operative Bank - Owner Occ 6.49
HSBC Premier 6.69
Kainga Ora 6.77
SBS Bank 6.79
Westpac 6.89
ANZ Blueprint to Build 4.58
SBS FirstHome Combo 4.74
Liberty 5.34
Heartland Bank - Online 5.49
Kainga Ora 5.85
Credit Union Auckland 5.95
Pepper Money 5.99
Westforce Credit Union - Standard 6.40
First Credit Union Special 6.40
Resimac 6.59
Unity 6.65
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People News

ANZ adds ninth BDM

ANZ adds ninth BDM

Branch manager joins ANZ's business development manager team.

Ford moves on from Heartland

Ford moves on from Heartland

The man who manages reverse mortgages for Heartland Bank is moving on.

Heartland Bank appoints new director

Heartland Bank appoints new director

Heartland Bank will appoint Simon Tyler as new independent non-executive director.

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KiwiSaver News

Ethical investment returns the goods

Ethical investment returns the goods

For the first time, responsible investment KiwiSaver provider Pathfinder is included in the three year return numbers for Morningstar’s KiwiSaver Report – topping the numbers for Conservative, Balanced and Growth funds.

KiwiSaver mirrors difficult market in Q3

KiwiSaver mirrors difficult market in Q3

Challenging underlying market conditions experienced over the September quarter were evident in returns listed in the Morningstar KiwiSaver Survey Q3.

KiwiSaver 2022: higher fees, lower investment returns

KiwiSaver 2022: higher fees, lower investment returns

New Zealand’s 3.168 million KiwiSaver members paid $692 million in fees in 2022, a 6.9% increase from the previous year. These fees - a combination of administration and management charges -  chewed up more than half of members’ investment returns, which this year dropped 90% to $1.3b.