MortgagesInterest rate report #11 - 11th March '25Interest rates keep falling after the latest OCR update. The Reserve Bank now forecasts a faster drop, with the OCR expected to hit 3% by year-end, pushing rates down.
MortgagesInterest rate report #9 - 10th December '24Mortgage interest rates dropped a lot in October. But they didn’t change much in November. Only the 6-month rate got a big cut. The average bank currently offers 5.99% for 6 months after you negotiate.
MortgagesInterest rate report #8 - 12th November '24Mortgage interest rates tumbled over the last month. The 6-month rate fell 0.34%. The 1-year rate fell 0.39%.
MortgagesInterest rate report #7 - 8th October '24The speed of interest rate cuts slowed this month. The average bank only cut 0.03% off their 18-month rate in the last month. And 0.17% off the 1-year rate.
MortgagesInterest rate report #5 - 15th August '24So much happened over the last month. Inflation fell to 3.3%. That’s lower than the Reserve Bank thought it would be. They thought 3.6%.
MortgagesInterest rate report #4 - 9th July '24A few banks dropped their interest rates over the last month. Not huge drops. These banks are just following the other big lenders to meet the market.
MortgagesInterest rate report #3 - 17th June '24Nothing changed last month. After a lot of frenzied cuts, no bank has changed their advertised rates in the last 3 weeks. The trajectory is still (slowly) down.