Fixing short terms for the long term.
- Future OCR cuts are possible, but the impact on mortgage rates will be minimal.
- Short-term mortgage rates will remain low over 2009, but long-term rates have lifted significantly.
- Low floating and short-term rates are more appealing than higher long-term rates.
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Report Prepared by:
Chris Tennent-Brown
CBA NZ Economist
Phone: +64 9 374 8819
Fax: +64 9 302 0992
