A review of things you need to know before you go home on Monday; National leaves Mt Albert to Labour, Aus budget puts credit rating at risk, real estate agency fined for price fixing, building consents inadequate, consumer and business confidence high

Here are the key things you need to know before you leave work today.

MORTGAGE RATE CHANGES
TSB has raised its 18-month Special rate by 10bps to 4.45% and its 2-year Special by 30bps 4.49%. 

NZ Home Loan has lifted its 1-year rate by 5bps to 4.24%. 

Housing NZ has increased its variable rate by 4bps to 5.59%, its 2-year rate by 4bps to 4.79%, its 3-year rate by 1bps to 5.00% and its 5-year rate by 26bps to 5.45%. There were also a series of changes from Resimac today. See all carded, or advertised, mortgage rates here.

DEPOSIT RATE CHANGES
TSB has hiked its 6-month term deposit rate by 15bps to 3.30%, 9-month rate by 60 bps to 3.75%, 1-year by 10bps to 3.50%, 2-year by 40bps to 3.80%, 3-year by 40bps to 4.00%, 4-year by 40bps to 4.10% and 5-year by 20bps to 4.20%.

Westpac has dropped its Online Saver rate by 25bps to 0.10%. 

‘MT ALBERT IS YOUR’S’ SAYS NATIONAL
Prime Minister Bill English has announced National won’t be standing a candidate in the Mr Albert by-election, following the resignation of Labour MP David Shearer. English concedes Mt Albert is a safe Labour seat. His call could be seen as a vote of no confidence in Melissa Lee - National’s list MP based in Mt Albert - who would’ve been up against Labour’s Jacinda Ardern. The by-election will be held on February 25.

AUS’S AAA RATING INCREASINGLY VULNERABLE
The Sydney Morning Herald reports: “The federal budget deficit will blow out by another $10.4 billion over four years, ratcheting up expectations Australia's AAA credit rating will be cut and potentially delivering a blow to the economic credibility of the Turnbull government. While Monday's mid-year budget update forecasts a slight improvement in the budget bottom line this financial year of $600 million - with a deficit of $36.5 billion rather than $37.1 billion expected - the following three years will see Treasurer Scott Morrison's budget bottom line head further into the red than expected in May.”

REAL ESTATE AGENCY PINGED FOR PRICE FIXING
Hamilton realtor Lugton's has been ordered to pay $1 million, joining a growing number of real estate agencies who have admitted they'd colluded to pass on increased Trade Me Group fees for property listings as part of a response to the auction site's increasing dominance in the market. The real estate agency is the second in Hamilton to appear in court after reaching a settlement with the Commerce Commission over a planned regional response to Trade Me's pricing model.

2/3 OF AUCKLAND HOMES NEEDED, CONSENTED
The number of new homes being consented was flat in October and well down from earlier in the year. The lacklustre new consent figures are particularly concerning in Auckland where at least another 1230 new homes need to be built each month just to keep pace with the region's migration-fuelled population growth.

SUPER FUND INVESTING LOCALLY
The NZ Super Fund has announced it will invest up to $260 million in small and medium-sized New Zealand companies over the next five to 10 years. Its investment will be spread across between 24 and 45 individual companies that are high growth, internationally focused and able to benefit from the Fund’s managers. There is currently $31.9 billion under the Super Fund’s management - $4.9 billion of which has been invested locally.

HOUSEHOLDS JOLLY...
Consumer confidence has risen for the second quarter in December, leaving it at slightly above average levels, according to Westpac's McDermott Miller Consumer Confidence survey. Westpac says New Zealand households are in the mood to celebrate, but this year's Christmas party will be "more of a relaxing family BBQ, than a full-blown rager". Households in rural communities have become much more upbeat following strong rises in dairy prices, while those on lower incomes have also become more optimistic. Growth figures due later this week are expected to show the economy expanded by a healthy 3.6% over the past year.

...BUSINESSES FESTIVE
A net 22% of businesses are optimistic about the year ahead - a one point increase from November - according to ANZ’s Business Outlook survey. ANZ says the construction sector is the most optimistic, and manufacturing the least. Hiring and investment expectations are strong, inflation expectations and pricing intentions are on the rise, and more firms think interest rates are on their way up. Firms are also reporting it is more difficult to get credit.

WHOLESALE RATES EVEN HIGHER
The 2-year and 5-year swaps were up by 1 bp and 2 bps respectively while the 1-year and 10-year swaps held on to Friday's levels. The 90-day bank bill is down 2bps to 2.02%. The US 10-year treasury yields are down 2bps, now trading at 2.58%.

NZ DOLLAR RECOUPS SOME LOST GROUND
The New Zealand dollar has made some gains throughout the day, but remains weak. It's up to 69.9 USc, 95.6 AUc and 66.8 euro cents. The TWI-5 index is at 76.4. Check our real-time charts here.

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