'Home loan relief coming' after cash rate cut (www.rnz.co.nz)

submitted 3 weeks ago by Dave@lemmy.nz to c/newzealand@lemmy.nz

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Home loan borrowers can expect rates to fall throughout the rest of this year and next, commentators say.

The Reserve Bank cut the official cash rate by 25bps to 5.25 percent on Wednesday.

While it was a move that was forecast by several economists, it was a u-turn from the bank's position in May. Infometrics chief executive Brad Olsen described it as a "WTH moment" and "the biggest flip-flop ever".

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[-] Ilovethebomb@lemmy.nz 3 points 3 weeks ago

Well, some good news for once. I've been fixing at 6 months the last few renewals, in the hope rates will start to drop.