The OCR was 5.5% from May 2023 to August 2024. So it has dropped 1.75% from its peak, which will help home owners and businesses.
Floating mortgage rates are down from 8.6% average to 7.4% and fixed from 6.0% to 5.2%. But these are still high. In 2017 they were 5.8% and 3.3%.
David Farrar runs Curia Market Research, a specialist opinion polling and research agency, and the popular Kiwiblog where this article was sourced. He previously worked in the Parliament for eight years, serving two National Party Prime Ministers and three Opposition Leaders.
Floating mortgage rates are down from 8.6% average to 7.4% and fixed from 6.0% to 5.2%. But these are still high. In 2017 they were 5.8% and 3.3%.
David Farrar runs Curia Market Research, a specialist opinion polling and research agency, and the popular Kiwiblog where this article was sourced. He previously worked in the Parliament for eight years, serving two National Party Prime Ministers and three Opposition Leaders.
1 comment:
And term deposit rates will drop which means savings will drop too which is very bad
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