In this section
Offers for readers
The comment stream
Recent comments
- 1 of 19105
- ››
Editors choice
- 1 of 276
- ››
Finance sector jobs
Successful applicants will have the opportunity to work with this leading Australian Advis...more
Australia
Think Global Recruitment is working with this exceptionally respected Australian Boutique ...more
Australia
Sought after opportunity to move to one of the most beautiful westernised countries in the...more
Australia
The news stream
Latest news
Most commented
- 90 seconds at 9 am with BNZ 116
- Wednesday's Top 10 with NZ Mint 78
- Friday's Top 10 with NZ Mint 28
- Amanda's Take Five for Wednesday 19
- The problems with NZ's energy use 18
- More bank mortgage rate cuts 16
- Govt lifts minimum wage 50 cts to $13.50 an hour 16
- Thursday's Top 10 with NZ Mint 15
- 90 seconds at 9 am with BNZ 14
- Full time jobs fall 13,000 in Dec qtr 14
Most viewed
Interest on Twitter
ANZ National hikes mortgage rates ahead of OCR decision
ANZ National announced mortgage rate hikes late on Friday ahead of next Thursday's decision by the Reserve Bank on its official cash rate (OCR).
ANZ National raised many of its fixed mortgage rates by 20-30 basis points. It left its variable mortgage rates unchanged.
Fixed mortgage rates have been rising in recent weeks in expectation the Reserve Bank will begin raising the OCR fast from early 2010. The Reserve Bank is expected to announce on Thursday it will drop its pledge to hold the OCR at or below 2.5% until the latter part of 2010 because of a faster rebound in the economy and the growing risk of inflation beyond 2010. Economists and markets are expecting the OCR to be closer to 4.5% by the end of 2010, implying fixed mortgage rates closer to 9% than their current 6-7%.
See all bank mortgage rates here.
15 Comments
Up they go. No ceiling
Up they go. No ceiling in sight. Labour's legacy. Notice how the Labour politicians are divorced from the awful consequences of their idiocy. Pay down debt while you can. But hey...the current govt has a strategy...and a tax working group....and Don Brash.....and a poodle media.....and a team of spin doctors....and a public too silly to recognise humbug when it kicks them in the bum.
Wally : Two themes interest
Wally : Two themes interest me : 1 ; would we be in the same debt swamp today , as a nation , had Don Brash won the election in 2005 . And : 2 ; how would Labour be dealing with the mess of today , had they won a forth term in 2008 , and lead us for all of 1999- 2011 . And they were faced with the awful consequences of their idiocy .
"Fixed mortgage rates have been
"Fixed mortgage rates have been rising in recent weeks in expectation the Reserve Bank will begin raising the OCR fast from early 2010."
Would it not be more accurate to say fixed rates have increased because of offshore wholesale rates and the OCR is this time around adjusting to that, in catch up mode?
Well Roger, I can only
Well Roger, I can only guess an answer to those questions. Since it is now clear to all the National Party rump along with MPs and related parties were all deeply into property speculation, Brash would have done what he was told to do and that would have been to go with the flow. So yes, we would be in the same shite. As to the other question...Labour would be borrowing in line with Rudd to pork the job market and move the pain onto future Kiwis. They would plan on a 1 million immigrant boost over 4 to 5 years to hide the swamp of debt. Enjoy the weekend before they start to tax it!
At least we can enjoy
At least we can enjoy our weekend under regular light bulbs . And with a full flow of water from our shower nozzles ......... The mind boggles as to how deeply Nanny Helen was going to intrude into our personal lives .......... Got the shivers just thinking about it . Gotta go and get a gummy bear boost !
You have had a good
You have had a good run from cheap rates. After 87 crash 35% on overdraft was the NORM.
Never, never, never trust a BANKER. By hook or by crook.
Ooooooooooweee...35%....jeez Newby, 87 was a
Ooooooooooweee...35%....jeez Newby, 87 was a picnic compared to this madness!
Ahhh. '87 !....When NZ household
Ahhh. '87 !....When NZ household debt to income ratio was a tidy 50%, odd.....and today it's.... 160%.
So from having 50c left of every dollar in the weekly pay packet that went into Mum's hand on Friday night, Dad's already borrowed and spent 60c more than he earned down the pub before he get's home.
I see the aussie banks
I see the aussie banks have out through some very large rate rises today, so can we expect NZ to follow (get dragged along)?
http://www.smh.com.au/business/fixed-rates-rise-as-banks-ready-for-rba-h...
Harriet - that 160% of
Harriet - that 160% of income is spread over the term of the loan and does not need to be paid back within a year. Scary how little NZer's understand about finance.
Scary, are we competing for
Scary, are we competing for more debts or seeking to reduce debts? Perhaps, the attitude is to leave the problems to others, right???
Financial and economics education start from home. Let's get it clear. If even within a "home sweet home" setting that such message can't be appreciated, then forgot about the macro perspective.
Rogie, At least we can
Rogie,
At least we can enjoy our weekend under REGULAR LIGHT BULBS , and with a FULL FLOW of WATER from our SHOWER NOZZLES....
..what about the rest of the week ? No power and water ?
..and do only have romantic candle light, and your dribbling garden hose during the week ?
Ah - living in Chch, where the water/ power is used for irrigation- understand !
No wonder you are on yammy, gummy bears.
Walter
Christchurch ! That den of
Christchurch ! That den of sin and iniquity , I think not , Walter . I'm the loonie of Loburn am I . Fresh air , clean water , and the dulcet tones of chainsaws at 7 a.m. Lovelly !!!
As for the " dribbling garden hose " , no shame for gentlemen of a certain age , to admit to . The men's clinic is working wonders , that and the " woody goat weed " tablets .
The "loonie" paradise men from
The "loonie" paradise men from Loburn- well done, but it seems you are the only one not visited our ArtGallery from Loburn- at least 9 did.
Bollard will hold his ground
Bollard will hold his ground for a full 12 months!