Mortgage News

Floating mortgages on hold

Thursday 16th of September 2010

Bollard cited the weak household sector with soft consumer spending, house sales falling and flat house prices, the weaker than expected global recovery and the disruption caused by Canterbury's earthquake.

As expected, Bollard left his official cash rate (OCR), which directly affects floating mortgage rates, unchanged at 3%. While he indicated further OCR hikes are likely at some point...

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