Confident claims fixed mortgage rates could be set to drop
Confident claims fixed mortgage rates could be set to drop
20 August 2018
This follows the Reserve Bank keeping its official cash rate at 1.75 percent, and it's expecting to stay there through 2020.
Westpac Chief Economist Dominick Stephens says financial markets are still coming to terms with this approach.
He says it hasn't affected short term rates at all.
But Stephens believes the two-year fixed mortgage rate could be about to fall, because there's already been a drop at the wholesale end at that maturity.
© 2024 Newstalk ZB, NZCity