
Mortgage News
Official Cash Rate now 5.75 per cent
Wednesday 15th of March 2000
Surprise. The Reserve Bank has just increased the Official Cash Rate (OCR) from 5.25 per cent to 5.75 per cent.
The move was widely expected, as are further OCR increases this year. However, a number of major lenders said this morning that a 50 point increase at this review was already built into floating and short-term mortgage rates.
Trading banks are currently offering floatin...
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