OCR Drop
The Reserve Bank has reduced the OCR(official cash rate) by 50(0.5%) basis points. The rate was effective from Thursday 10th October 2024.
ASB, ANZ & Westpac now have advertised fixed rates as low as 5.69% for 24 month fixed.
This will give home buyers more confidence that now is the right time to buy. With the weather warming up, prices may start to warm as well.
The next rate decision will be the 27th November 2024.