Leading the market, and taking the opportunity to increase their margin, ASB has raised their 3,4, and 5 year fixed rates. For the under 80%’ers the 3 year is raised 0.26% to 4.75% and the 5 year up 0.16% to 5.25%.
Data out from Harcourts today shows a fall in Northern region sales of 14% when comparing November 2014 with November 2015.
Total new listing were down 17% and new auction / tender listings were down 26%.
Reversing the last of the 4 OCR raises in 2014 the Reserve Bank has cut the Official Cash Rate to 2.50% this morning.
Citing low inflation and a hope that the new Tax and LVR measures on property are easing Auckland house price increases the Bank remains ready to cut again if the data warrants it.
ANZ was the first to pass on the 0.25% in full on its Revolving Credit and Floating interest rates.