How attractive would rates have to be to fix?
Thursday, October 14th 2010, 11:41AM
Borrowers should stay floating until someone comes along and offers a really attractive fixed rate says BNZ economist Tony Alexander in Expert Views. This graph shows how much lower Alexander believes fixed rates would need to be to justify moving away from the current low floating rate.
We also find that growth in mortgage lending by registered banks is shrinking dramatically and looks like it will go even lower than in the depths of the global financial crisis (GFC).
Without much news or data of importance released this week mortgage rates have not moved.
| « Interest rate impact on borrowers' wallets | Banks loosen lending criteria » |
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