Mortgage Rates Daily Commentary
Thursday 20 February 2025
Rate conundrum lies ahead
It's interesting times with mortgage rates. About half of all mortgages will reprice over the next six months and advisers will have a key role to play in helping customers. What makes it more challenging is that most of the post OCR cuts yesterday were to floating rates with only a few moving fixed rates lower.
And to add to the challenge, two-year swap rate rose 2 basis points yesterday. The longer term rates are driven by what's happening in the United States and there are fears tariffs will fuel inflation.
Here are some interesting tables.
In the two year fixed rate you can see how many lenders changed rates and one has moved to a sub-5% level. See the table here
Meanwhile, this table shows how many lenders moved floating rates. The smaller banks have, in general, taken the more competitive positions. Have a look here.
NZ Finance secures funding line
Commonwealth Bank provides NZ Finance with funding line to reduce reliance on debentures.
Tuesday, April 24th 2007, 7:47AM
Commonwealth Bank of Australia have approved a non-conforming mortgage securitisation
warehouse facility to a wholly owned subsidiary of NZ Finance Holding.
"This new facility will assist the diversification of the group's liability funding and reduce the reliance
on traditional debenture investors," NZ Finance says.
"This facility will assist with the continued growth of the group's products and services which it distributes through its growing internal mortgage broking business and external broker channels."
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