News

OCR assumptions don’t add up

Economist Tony Alexander doesn’t believe the RBNZ will keep the OCR at 5.50% or higher through to the middle of 2025, even though the central bank is forecasting a possible further hike next year.



Record immigration to blame for rates staying higher for longer: RBNZ

Those bearing the brunt of rising mortgage rates can blame the impact of record net immigration for interest rates remaining high into 2025 before they're likely to see any relief.

RBNZ dashes hope of 2024 interest rate cut

The Reserve Bank left its official cash rate (OCR) unchanged at 5.5% and said “ a prolonged period of subdued activity is required to reduce inflationary pressure.”

BREAKING: OCR held, but comes with a warning

The Reserve Bank has held the official cash rate at 5.50% but warns it could rise.

Mortgage lending should be removed from CCCFA

If ever there was a law designed to do good but in need of a rewrite, it is the CCCFA.

Today's Rate Changes
  • RBNZ dashes hope of 2024 interest rate cut; Record immigration to blame

    The Reserve Bank left its official cash rate (OCR) unchanged at 5.5% and said “ a prolonged period of subdued activity is required to reduce inflationary pressure.” [READ ON]

    Those bearing the brunt of rising mortgage rates can blame the impact of record net immigration for interest rates remaining high into 2025 before they're likely to see any relief. [READ ON]

     

    TMM is doing its annual survey of mortgage advisers and we would like you to take part in it. The survey is your opportunity to tell us about the state of the mortgage advice market. To complete the survey CLICK HERE

     

    Prospa is holding a working lunch tomorrow at Saint Alice (Auckland Viaduct).

    To join Prospa team and industry colleagues please click here.

     


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Property News

Too expensive and wrong – new property manager regulations needed

Too expensive and wrong – new property manager regulations needed

The Residential Property Managers Association (RPMA) wants a completely new property managers bill and is hoping to meet with Housing Minister Chris Bishop shortly to get work underway.

Weaker than expected

Weaker than expected

ANZ is predicting house prices to fall 0.4% over the rest of the year, versus the 0.2% rise it had previously forecast.

New Government – new property rules

New Government – new property rules

The newly formed Coalition Government is getting right down to work and it means quite a bit for the property sector.

Top Mortgage Rates

Heartland Bank - Online 6.99
Unity 6.99
ICBC 7.05
SBS FirstHome Combo 7.05
China Construction Bank 7.09
Co-operative Bank - First Home Special 7.10
Wairarapa Building Society 7.15
Co-operative Bank - Owner Occ 7.30
BNZ - Classic 7.35
Kiwibank Special 7.35
TSB Special 7.39
China Construction Bank 6.75
ICBC 6.85
Heartland Bank - Online 6.85
Wairarapa Building Society 6.94
Westpac Special 6.99
Unity 6.99
Kiwibank Special 7.05
AIA - Go Home Loans 7.05
ASB Bank 7.05
Co-operative Bank - Owner Occ 7.05
BNZ - Classic 7.05
China Construction Bank 6.40
Westpac Special 6.49
ICBC 6.49
AIA - Go Home Loans 6.69
ASB Bank 6.69
BNZ - Classic 6.75
SBS Bank Special 6.79
TSB Special 6.79
Kiwibank Special 6.79
Co-operative Bank - Owner Occ 6.85
Kainga Ora 6.99
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
First Credit Union Standard 8.50
Kiwibank 8.50
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People News

Avanti gets new driver of its auto business

Avanti gets new driver of its auto business

Avanti Finance has appointed a new general manager to its auto business.

Liberty makes three key appointments

Liberty makes three key appointments

Liberty adds a new underwriter, promotes a former underwriter to a BDM role and secures a specialist property lender from another non-bank.

NZHL makes appointment to drive growth

NZHL makes appointment to drive growth

NZ Home Loans has appointed a new group general manager strategy to help grow the business.

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KiwiSaver News

Sharesies KiwiSaver, including self-select feature, goes to market

Sharesies KiwiSaver, including self-select feature, goes to market

Sharesies has launched its KiwiSaver scheme to the general public having given access to its 31,000 wait-listed Sharesies members last week.

KiwiSaver - is consolidation on the cards?

KiwiSaver - is consolidation on the cards?

KiwiSaver has finally hit a speed bump shrinking for the first time to end the September quarter at $96.2 billion. That’s down around $2 billion from June.

KiwiWrap KiwiSaver has highest average balance

KiwiWrap KiwiSaver has highest average balance

With an average balance of more than $120,000, KiwiWrap is way ahead of other KiwiSaver providers, although it has under 300 members.