Mortgage rates coming down after RBNZ's dovish tilt

Mortgage rates coming down after RBNZ's dovish tilt
Westpac has also lowered its six-month rate by 19 basis points to 7.05% and the 18-month rate 10 basis points to 6.79%. (Image: NZME)
Rebecca Howard
Westpac looks to be the first bank out of the gate to lower its mortgage rates after the central bank’s dovish tilt on Wednesday.Westpac dropped its 12-month mortgage rate by 25 basis points to 6.89%.It also lowered its six-month rate by 19 basis points to 7.05%. The 18-month rate was lowered 10 basis points to 6.79%.The move came after the Reserve Bank of New Zealand kept rates on hold at 5.5% but opened the door to sooner-than-forecast rate cuts.The central bank’s latest full set of forecasts had indicated that the first rate...

More Economy

Retailers reel from merchant fee mess
Retail

Retailers reel from merchant fee mess

Bayly said it's important to find a balance between the different stakeholders.

Gregor Thompson 30 Oct 2024
Eroad ups offering with Geotab deal
Economy

Eroad ups offering with Geotab deal

Eroad has announced a deal with a Candian firm for new tech.

Scott Technology sells big into Europe, North America
Economy

Scott Technology sells big into Europe, North America

The Dunedin based robotics firm has found new success in the European market.

ComCom decides Starlink to become NZ levy payer
Economy

ComCom decides Starlink to become NZ levy payer

Starlink now meets the $10m annual revenues threshold.