Mortgage News

RBNZ tipped to raise rates on Thursday

Sunday 25th of July 2004

The OCR, which directly influences bank’s floating mortgage rates, is currently at 5.75% and the RBNZ is expected to raise it to 6%.

"Everybody’s picking a rate hike and the market is fully pricing in a hike," Deutsche Bank senior economist Darren Gibbs says.

In the wholesale market on Friday, the 90-day bank bills were trading at 6.28%. The rule of thumb is that floating mortgage rates ar...

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