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Banks hike interest rates despite lockdown in Auckland

Banks hike interest rates despite lockdown in Auckland
stuff.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from stuff.co.nz Daily Mail and Mail on Sunday newspapers.

Chris Tennent Brown , Reserve Bank , கிறிஸ் குத்தகைதாரர் பழுப்பு , இருப்பு வங்கி ,

Don't expect lockdown to stop mortgage rate rises

Don't expect lockdown to stop mortgage rate rises
stuff.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from stuff.co.nz Daily Mail and Mail on Sunday newspapers.

Tony Alexander , Chris Tennent Brown , Kelvin Davidson , Reserve Bank , டோனி அலெக்சாண்டர் , கிறிஸ் குத்தகைதாரர் பழுப்பு , கெல்‌விந் டேவிட்சன் , இருப்பு வங்கி ,

Good news and bad news for term deposit holders


“Ten or 15 years ago you could get ahead with a term deposit but now that is not the case,” Tennent-Brown said.
“It is a tough environment for conservative savers. The longer-term rates have lifted a bit but they are still nowhere near our inflation forecasts. That is the bind.”
Between 2012 and 2020, interest rates had been low but inflation was virtually non-existent, leaving investors better off overall.
Jan Mika/123RF
Inflation is coming to eat your savings.
“Now we are looking at pressure on supply chains, we could have 3 per cent or 4 per cent inflation for a couple of quarters, term deposits are definitely behind now.” ....

Chris Tennent Brown , Gareth Kiernan , கிறிஸ் குத்தகைதாரர் பழுப்பு , கரேத் கியர்நெந் ,

More bad news for term deposit holders

More bad news for term deposit holders
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Chris Tennent Brown , Gareth Kiernan , கிறிஸ் குத்தகைதாரர் பழுப்பு , கரேத் கியர்நெந் ,

Borrowers must prepare for higher mortgage rates, ASB says


The bank’s forecast was for the official cash rate (OCR) to peak at 1.5​ per cent in late 2023​, or early 2024​.
Though that meant home loan borrowers would face higher repayments, mortgage rates were not expected to return to pre-Covid levels.
“This suggests that mortgage interest rates are likely to settle at historically low levels, but at rates slightly higher than our earlier forecasts,” Tennent-Brown said.
Each percentage point rise in the overall rate a borrower pays, for example a rise from three per cent to four per cent, results in an extra $1000 a year for every $100,000 they owe.
Robyn Edie/Stuff ....

New Zealand , Chris Tennent Brown , Reserve Bank , Official Cash Rate , புதியது ஜீலாந்து , கிறிஸ் குத்தகைதாரர் பழுப்பு , இருப்பு வங்கி , அதிகாரி பணம் ரேட் ,