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Posted in Personal Finance

BNZ cuts its 3yr home loan rate

The mortgage rate reductions keep coming with another bank pitching its latest change near the bottom of the range as wholesale rates droop

What happened Thursday

A review of things you need to know before you go home on Thursday; FMA warning, massive housing value surge, another housing Accord, expanding dairying, sharp falls in swap rates and the NZD

What happened Wednesday

Updated
A review of things you need to know before you go home on Wednesday; more mortgage rate cuts, seeking more migrants, fatter home loans, more rail riders, Cullen fund managers underpaid

Harmoney attracts New York backer

Blue Elephant Capital Management to lend US$50 mln through NZ P2P lender Harmoney over 2 years, Says NZ in need of well-priced capital

Mortgage competition heats up

Two major banks come late to the mortgage rate reduction party but bring some of the lowest rates with them, boosted by falling swap rates

What happened Tuesday

Updated
A review of things you need to know before you go home on Tuesday; record migrant arrivals, higher credit card debt, China growth still strong, swap rates fall

What happened Monday

A review of things you need to know before you go home on Monday; mortgage rates drop, LGFA rating support, housing politics, jump in rentals, jump in swaps, NZD holds

ASB reduces rates then Kiwibank trumps them

Updated
Bank's vie for lowest-rate claim in rapid-fire mortgage rate reductions in the key one and two year terms, following wholesale rates down

What happened Friday

A review of things you need to know before you go home on Friday; cleaner trucks, fewer on benefits, swap rates rebound, bankruptcies drop

BNZ raises term deposit rates

Updated
A rise of four key term deposit rates by BNZ brings them more into line with other banks, but none are market leading. Cuts some key saver account rates

What happened Thursday

A review of things you need to know before you go home on Thursday; drama in the interest rate swap markets, jobs lost and gained, factories humming, NZD strengthens

What happened Wednesday

A review of things you need to know before you go home on Wednesday; BNZ cuts mortgage rates, Chinese inflation slows, Aussie mortgage risks low but rising, wholesale interest rates sink further

Ombudsman sees rise in credit card cases

Banking Ombudsman sees big rise in AML, KiwiSaver cases as annual payouts to bank customers drop 40%

BNZ cuts its Classic 2yr mortgage rate

A second bank cuts home loan rates as wholesale benchmarks fall; BNZ follows Co-operative Bank as margins open up for more reductions

Mortgage rates chopped

The Co-operative Bank grabs the mantle of having the lowest four and five year home loan rate offers

What happened Tuesday

A review of things you need to know before you go home on Tuesday; NZD dollar trading surges, only one SCF director guilty, farmers reject wool levy, wholesale interest rates fall, NZD rises

What happened Monday

Updated
A review of things you need to know before you go home on Monday; cheaper food, house prices moderate, wholesale money costs fall, China's impressive September trade, NZD rises

What happened Friday

A review of things you need to know before you go home on Friday; ANZ raises credit card interest rates, dairy prices keep drifting lower, tourists keep coming, swap rates keep falling

What happened Thursday

A review of things you need to know before you go home on Thursday; Truckometer sees no problems, electronic card activity up, linkers popular, ANZ strike on, NZD up strongly, swap rates down again

What happened Wednesday

A review of things you need to know before you go home on Wednesday; record beef prices, new Wtgn quake faultline, fewer home loan approvals, Dunedin borrows $70 mln, swap rates fall