A review of things you need to know before you sign off on Monday; some catchup rate changes, QV joins the glum club, meth guidance, Todd scores 'co-investment', swaps stable, NZX dips, NZD stable, and more

Here are the key things you need to know before you leave work today (or if you work from home, before you shutdown your laptop).

MORTGAGE RATE CHANGES
Both Heartland Bank (now 6.35%) and Avanti Finance (now 6.85%) raised their floating rates by +25 bps today. SBS Bank has as well (to 6.34%). All current mortgage rates are here. And note, you can compare mortgage offers with our unique calculator that takes into account other costs and cashback incentives, here.

TERM DEPOSIT/SAVINGS RATE CHANGES
None here either. All updated term deposit rates less than 1 year are here, for 1-5 years, they are here.

'A SLOW DETERIORATION RATHER THAN A SUDDEN CORRECTION'
QV says average dwelling values fell -1.9% over winter in a 'slow deterioration', down -1.3% from a year ago and essentially confirming Cotaliy's earlier glum prognosis. QV's House Price Index shows values declining in most parts of the country with Gisborne values sliding the most.

UPDATED GUIDNCE
The Real Estate Authority has updated its guidance on meth contamination for real estate agents. They say methamphetamine contamination above 15 micrograms (μg) per 100 cm2 is considered to be a defect that must be disclosed. "REA recommends that the report produced following testing undertaken to determine the contamination level is disclosed." But they have agreed some wiggle-room for agents. If agents claim they had no reason to suspect contamination, they don't have to test, and therefore don't have to disclose - or even get a report. But they "must not mislead a customer or client, nor provide false information, nor withhold information that should by law or in fairness be provided to a customer or client".

STILL FAST-RISING
June quarter local authority stats shows that rates & regulatory income was up +8.9% from the same quarter in 2025. That is higher than the +8.5% in the June quarter, but not as high as the year-ago June quarter rate of +12.0% or the two years-ago 9.8% rise.

MORE FUNDING SOUGHT
The Community Housing Funding Agency is in the bond market for $100 mln via a 5-Year Fixed Rate secured, unsubordinated Social Bond. The will be rated A+ and unlisted. So far this agency has loaned more than $575 mln to 38 social housing providers. This new funding will increase that capacity.

NZX50 SOFTENING
As at 3pm, the overall NZX50 index is down -0.5% today. It is down -0.1% for the past 5 trading sessions. It is up +6.2% from six months ago. From a year ago it is now up +4.7%. Market heavyweight F&P Healthcare is down -1.7% so far today. Vulcan Steel, Gentrack, Oceania, and The NZX decline; a2 Milk, Serko, SkyCity casino and Kathmandu leads the gainers

'CO-INVESTING' TO ALLOW HIGHER LEVERAGE
The Government is "co-investing" with one of New Zealand's richest family's business (Todd Energy) in new gas field exploration. The McKee Gas Cap project will receive a loan of up to $16.2m for drilling and connecting a new gas well, with Todd Energy contributing almost $7 mln. The McKee-Tariki Production Well project will receive a loan of up to $7.3 mln toward converting an existing well to access gas in the deeper Tariki reservoir, with Todd Energy contributing about $3.1 mln. The Crown will get a commercial interest rate return. Todd will get the profits. If the idea is 'commercial' you do have to wonder why Todd wouldn't push ahead on its own. Then again, with taxpayer funding wanting to be involved, why wouldn't they take it?

THE END
In Australia, Western Sydney developer Bathla's collapse is looking almost certain now. Major staff layoffs are underway.

BIG INJECTION OF NEW STIMULUS
Earlier today, China announced major funding into eight large SOE institutions to enable them to lend more. It is injecting ¥300 bln (NZ$75 bln) in 'recapitalisation' the most it has done like this in 20 years. The funds will come from Ministry of Finance 'special bonds'. It is the latest and unlikely to be the last of economic support measures to 'reinvigorate' their economy.

SWAPS ON HOLD
Wholesale swap rates will likely be essentially unchanged today, again. Keep an eye on our chart below which will record the final positions closer to 5pm. The RBNZ 90 day rate was unchanged at 3.06% on Friday. Today, the Australian 10 year bond yield is unchanged at 5.15%. The China 10 year bond rate is also unchanged at 1.68%. The Japanese 10 year bond is up +1 bp at 2.91%. The NZ Government 10 year bond rate is now at 4.81% and down -1 bp from this morning. (The RBNZ 10 year rate is 'prior day' and was up +1 bps to 4.79% on Friday.) And the UST 10yr yield is now at 4.79%, and up +1 bps from this morning's open.

EQUITIES MIXED
The NZX50 is now down -0.4% from Friday's close. The ASX200 has opened little-changed. Tokyo has opened up +2.2%. The KOSPI has risen +3.2% at its open today. However Hong Kong has opened down -1.1% while Shanghai is down -0.2% at its open. Singapore is down -0.2% as well in early Monday trade today. Wall Street is on holiday for their long Labor Day weekend.

OIL PRICES CREEP UP AGAIN
American oil prices are marginally firmer from this morning's open with the WTI benchmark is up +50 USc to just over US$92/bbl, while the international Brent price is up the same at just under US$97/bbl. The Americans and Iranians are trading fire today in the Persian Gulf. Meanwhile US petrol prices are up +2% in a week. Their diesel prices are up +5% in a week.

CARBON PRICE DIPS
There have been few trades reported so far today again but the price is has fallen -$1.50 to just $50/NZU. See our daily chart tracker of the NZU price for carbon, courtesy of emsTradepoint.

GOLD DIPS
In early Asian trade, gold is down -US$27/oz from this morning, now at US$4406/oz. Silver is little-changed at US$66/oz.

NZD DIPS SLIGHTLY
The Kiwi dollar is down -10 bps from this morning, to just on 58.7 USc. Against the Aussie we are also down -10 bps at 81.5 AUc. Against the euro we unchanged at 50.6 euro cents. This all means the TWI-5 is now just on 62 and down -10 bps from this morning's open

BITCOIN EASES UP
The bitcoin price is now at US$79,981 and up +0.6% from this morning. Volatility has been low, at just on +/- 0.6%.

HOW THE GLOBAL ECONOMIC FORCES AFFECT US
If you want to catch up on what happened last night, try our Economy Watch podcast, here.

This soil moisture chart is animated here.

Keep abreast of upcoming events by following our Economic Calendar here ».