KPMG warns end of mortgage war may be near

Wed, 19 Feb 2020

The mortgage war spurred by the Reserve Bank’s interest rate cuts last year may be near an end, according to KPMG.The financial services advisory firm noted the unexpected competition that arose in the second half of 2019 after the central bank cut the official cash rate half a percentage point to a record low 1 percent. The Reserve Bank's goal was to encourage firms to ramp up investment after a protracted period of pessimism against a backdrop of a slowing global economy.“The RBNZ cutting the OCR in August 2019 by 50 basis points appears to h...

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