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.

ASB's mortgage book shrinks as ANZ, Kiwibank grow market share

ASB Bank's decision to concentrate on profit margins is coming at the obvious cost of market share – in the September quarter, its mortgage book shrank by $152.2 million, according to the Reserve Bank's bank financial strength dashboard.

RBNZ stays on hold as economists, markets debate timing of first OCR cut

Nobody is expecting the Reserve Bank to do anything when it releases its latest monetary policy statement and economic forecasts next Wednesday but there's a debate raging about when it will start cutting interest rates.

More stories
  • The first bank rate cut

    Westpac is the first bank to cut home loan rates, lowering its two-year rate.

  • Payments NZ wants changes to open banking bill

    Payments NZ is bidding for its API Centre to be at the centre of not just open banking but of data sharing in other industries such as energy and telecommunications.

  • OCR cuts and when they will start

    Financial markets are pricing in an aggressive easing of almost three OCR cuts next year – a quantum leap from the RBNZ’s previous forecasts of no cut until the first quarter of 2025.

  • Mortgage lending slows to lower DTI rates

    As the Reserve Bank gears up to start public consultation at the beginning of near year on debt-to-income (DTI) levels, its latest quarterly DTI figures show In September, $1.6 billion, or 31.1% of $5.2 billion of new mortgage lending was at a DTI of 5.

  • ANZ will continue to sell home loans directly

    ANZ is still committed to offer loans through its branches although nearly two-thirds of its lending was originated by mortgage adviser channel in the most recent financial year.

  • Mortgage advisers dominate ANZ's new home lending

    Mortgage advisers are becoming increasingly dominant in originating home loans as the annual results of the country's largest bank, ANZ Bank New Zealand, demonstrate.

  • Where lenders want to put their money

    New research shows seventy per cent of bank and non-bank lenders prefer funding industrial developments above all other property assets.

  • Kiwibank says few customers stresseed by higher mortgage rates

    Only about 50 of Kiwibank's home loan customers were financially stressed enough to have needed intensive help to work through the impact of rising mortgage interest rates, chief executive Steve Jurkovich told an NZX webinar.

  • Mortgage advisers approach half of BNZ's new lending

    The amount of loans mortgage advisers are bringing to Bank of New Zealand continues to rise sharply, although they contributed slightly less to new lending in the six months ended September than they did in the six months ended March.

  • Do advisers need another association?

    Financial Advice NZ chief executive Katrina Shanks questions whether there is room for another adviser association in New Zealand. 

  • FBAA plans to boost advisers’ market share

    Lifting the number of mortgages written by independent advisers will be a top priority for the Finance Brokers Association of Australia (FBAA) when it sets up a New Zealand office in February under a new brand.