Yesterday the Reserve Bank announced there would be no change in the Official Cash Rate (OCR).
This week Reserve Bank Governor Alan Bollard announced the Official Cash Rate (OCR) would remain unchanged at 2.5%.
Changes in the economy can affect you in different ways – from the price you pay for petrol, to the interest rate you earn on your savings.
Mortgage rates are likely to rise after today's Official Cash Rate increase to 2.75% and some are predicting further rate rises from the Reserve Bank later in the year year.
Not that long ago you didn’t really think about your mortgage until your fixed term came up for review, then you just fixed it again for another 2-3 years.