Live Breaking News & Updates on கிறிஸ் குத்தகைதாரர் பழுப்பு
Stay updated with breaking news from கிறிஸ் குத்தகைதாரர் பழுப்பு. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Banks hike interest rates despite lockdown in Auckland stuff.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from stuff.co.nz Daily Mail and Mail on Sunday newspapers.
Don't expect lockdown to stop mortgage rate rises stuff.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from stuff.co.nz Daily Mail and Mail on Sunday newspapers.
“Ten or 15 years ago you could get ahead with a term deposit but now that is not the case,” Tennent-Brown said. “It is a tough environment for conservative savers. The longer-term rates have lifted a bit but they are still nowhere near our inflation forecasts. That is the bind.” Between 2012 and 2020, interest rates had been low but inflation was virtually non-existent, leaving investors better off overall. Jan Mika/123RF Inflation is coming to eat your savings. “Now we are looking at pressure on supply chains, we could have 3 per cent or 4 per cent inflation for a couple of quarters, term deposits are definitely behind now.” ....
More bad news for term deposit holders stuff.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from stuff.co.nz Daily Mail and Mail on Sunday newspapers.
The bank’s forecast was for the official cash rate (OCR) to peak at 1.5 per cent in late 2023, or early 2024. Though that meant home loan borrowers would face higher repayments, mortgage rates were not expected to return to pre-Covid levels. “This suggests that mortgage interest rates are likely to settle at historically low levels, but at rates slightly higher than our earlier forecasts,” Tennent-Brown said. Each percentage point rise in the overall rate a borrower pays, for example a rise from three per cent to four per cent, results in an extra $1000 a year for every $100,000 they owe. Robyn Edie/Stuff ....