Here are the key things you need to know before you leave work today.
TODAY'S MORTGAGE RATE CHANGES
There were changes today with ASB/BankDirect/Sovereign cutting two key rates, and then Kiwibank (along with AMP Home Loans) trumped them with a new market-leading one year rate of 5.69%.
TODAY'S DEPOSIT RATE CHANGES
NZCU Auckland raised their one year TD rate from 4.50% to 4.75%, and their 18 month TD rate from 4.75% to 5.00%.
Standard & Poor's said today that it had affirmed its 'AA+/A-1+' local currency ratings and 'AA/A-1+' foreign currency ratings on the LGFA. The outlook remains stable. They said these ratings are based on the "extremely high" likelihood that the New Zealand government will provide "extraordinary support in a stress scenario".
TODAY IN HOUSING POLITICS
The Government is starting its new term very focused on housing issues and housing affordability. Paula Bennett is attacking 'loopy rules', Bill English is remaking Housing New Zealand and boosting the social housing sector, and John Key has weighed in on how young people should get on the property ladder.
Greg Ninness is reporting that official data shows there are 17,500 more houses being rented than at this time last year (a +3.8% rise). 45% of that increase was in Auckland.
Domestic swap rates rose again today in another strong steepening bias, making back even more of last week's mid-week losses. These moves mirror Friday's Wall Street shifts as they shook off their anxieties and recovered their composure. We are almost back to where we were at the start of last week. The 90 day bank bill rate fell -1 bp to 3.67%.
OUR CURRENCY HOLDS
Check our real-time charts here. Today the Kiwi dollar held its own against the US dollar and is at 79.5 USc. Ditto Aussie to 90.5 AUc. The TWI sits at 77.
You can now see an animation of this chart. Click on it, or click here.