News and Insights
Keep up with the property market, interest rates, lending rules and other useful updates for anyone who wants to make smarter property and financial decisions.
November wrap-up | An OCR cut and encouraging signs heading into summer
Last week brought the news many Kiwis were waiting for: The Reserve Bank dropped the OCR (Official Cash Rate) by 0.25% to 2.25 It was widely predicted, but still a very welcome shift heading into the end of the year, especially with the RBNZ now on holiday until late February.
OCR held at 3.25%. Is it time to revisit the Reserve Bank’s mandate?
Over the past 12 months, the Reserve Bank has gradually lowered the Official Cash Rate (OCR) from 5.50% to 3.25%. While that’s a solid drop, the pace of cuts has been cautious. With inflation falling and economic pressures mounting, many are asking: Why has the RBNZ been so cautious on rate cuts? Part of the answer may lie in a quiet but significant change made late last year. Here’s the full story.
Test rates are below 7% - why that’s good news for home loan borrowers
The Reserve Bank cut the OCR this week, and while that’s good news for mortgage holders, here’s what we’re really watching: Most banks have already dropped their floating rates. More interestingly – we’ve just seen a bank drop its test rate to 6.75%. That’s a big shift.