The official cash rate 6 weekly announcement is due today at 9am, I will keep you posted
We are expecting the rate to remain at 2.5%.
ANZ are leading the charge against the banks at the moment and they have an interesting strategy
MORTGAGE BORROWING STRATEGY
Mortgage rates have not changed over the past month, leaving the carded floating rate at its lowest level in over 48 years. Carded 6 month and 1 year fixed rates for borrowers with over 20 percent equity remain at 4.95 percent, the lowest fixed rate offered since the advent of the fixed rate mortgage. With short term fixed rates below the floating rate, and the RBNZ unlikely to cut the OCR, we see merit in fixing a portion of debt for 6 months and/or 1 year.
