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Reserve Bank OCR cut sends mortgage rates plummeting

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Ksenia Stepanova | 08 May 2019, 04:11 p.m. Agree 0
The Official Cash Rate has been cut for the first time since November 2016
  • FinanceAlchemist | 08 May 2019, 04:24 p.m. Agree 0
    cuts of 0.06% and 0.15% , not exactly PLUMMETING!
    The Banks are still profiteering, fixed rates should be 3.5% and floating just under 5%.
    Another $6 billion in profits to flow across the ditch.
  • Dr Jekyll | 08 May 2019, 05:12 p.m. Agree 0
    Headline: Banks take .10-.19% profit position from latest OCR cut.
  • Broker Tony | 08 May 2019, 07:22 p.m. Agree 0
    The interesting part is how quick they were to announce reductions less than the RBNZ rate drop. The cynic in me wonders if they are announcing their position before another bank recklessly passes on the whole rate cut. Not much chance now of any of the other banks passing on the whole cut.
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