Reserve Bank calls for lower mortgage rates
Bascand believes the Reserve Bank's bond-buying programme, and cut to a 0.25% Official Cash Rate, have effectively reduced wholesale lending rates for banks.
Yet Bascand says lenders aren't doing enough to pass on rate cuts to home loan borrowers.
"In one sense, they [the banks] are probably a bit cautious there but as time goes on, and they are more confident that they can fund in different ways and at lower costs, they hopefully will see more of that flow through," Bascand told the NZ Herald.
"We have seen some banks reduce their mortgage rates but we still think that there is a way to go," he added.
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