{"id":77285,"date":"2025-10-14T07:05:11","date_gmt":"2025-10-14T07:05:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/77285\/"},"modified":"2025-10-14T07:05:11","modified_gmt":"2025-10-14T07:05:11","slug":"what-happened-tuesday-interest-co-nz-5","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/77285\/","title":{"rendered":"What happened Tuesday | interest.co.nz"},"content":{"rendered":"

Here are the key things you need to know before you leave work today (or if you work from home, before you shutdown your laptop).<\/p>\n

MORTGAGE RATE CHANGES
The big change today was Bank of China launching a 4.28% one year fixed mortgage rate<\/a>, a new market low. Other to cut rates today included NBS, Kainga Ora, All rates are here<\/a>. And note, you can compare mortgage offers with our new calculator that takes into account other costs and cashback incentives, here<\/a>.<\/p>\n

TERM DEPOSIT\/SAVINGS RATE CHANGES
Exceda and NBS both changed rates down today. All updated term deposit rates less than 1 year are here<\/a>, for 1-5 years, they are here<\/a>.<\/p>\n

REVERTING TO THE OLD PLAYBOOK AGAIN
The RBNZ has announced<\/a> it will ease loan-to-value ratio lending restrictions. Banks will be allowed to write more low-deposit mortgages to property investors and home buyers.<\/p>\n

LOOKING FOR A SPRING UPTICK
The REINZ House Price Index rose +0.8% in September from August, and they say<\/a> industry salespeople are ‘cautiously optimistic’. But it a brave view, given that immigration has vanished, and the population is ageing, and too many house-buyers have left for Australia. There is a buyer-friendly demographic building.<\/p>\n

STILL A BUYERS MARKET
QV says<\/a> the average value of NZ homes dropped almost -$10,000 in Q3 with Auckland values down -$38,000. They confirm it was still a buyers market in the September quarter.<\/p>\n

FAILURE TO LAUNCH
But that ‘cautious optimism’ is not what the wider consumer economy is signaling. Electronic card activity data for September shows<\/a> that after two consecutive months of gains, retail spending fell again.<\/p>\n

NZX50 FALLS AGAIN
As at 3pm, the overall NZX50 index<\/a> was down -0.8% in its Monday session so far. That puts it -2.1% lower over the past five working days. It is up +1.4% year-to-date. From a year ago it is now up +3.8%. Market heavyweight F&P Healthcare is down another -1.0% today so far. Precinct, Port of Tauranga, Goodman Property, and Vital Healthcare all fell while Genesis, Serko, SkyCity and SkyTV were among the gainers<\/p>\n

SENTIMENT UP BUT ORDERS LOWER
In Australia, the NAB Business Confidence Index rose tin September from August\u2019s three-month low, staying above the long-run average. Business conditions were unchanged, as stronger sales and profits were offset by weaker employment. However, forward orders slipped into contraction indicating softer demand ahead.<\/p>\n

BETTER THAN EXPECTED
Singapore was bracing for a +2.0% year-on-year Q3-2025 GDP expansion, down from the +4.5% expansion they had in Q2-2025. But they actually got a +2.9% expansion in the September quarter<\/a>. Services and construction did more heavy lifting there than was assumed when all the focus was on the troubles their factory sector was having.<\/p>\n

SWAP RATES ON HOLD
Wholesale swap rates<\/a> are will likely be little-changed today. Keep an eye on our chart<\/a> below which will record the final positions closer to 5pm. The 90 day bank bill rate was down -1 bps on Monday at 2.54%. Today, the Australian 10 year bond yield is also down -1 bp from yesterday at 4.30%. The China 10 year bond rate is up +3 bps at 1.78%. The NZ Government 10 year bond rate is unchanged at 4.12%. The RBNZ data is now all delayed with Monday’s rate down -4 bps to 4.10%. The UST 10yr yield is down -2 bps at 4.06%.<\/p>\n

EQUITIES MIXED
The local equity market is now down -0.8% in Tuesday trade so far. The ASX200 is little-changed in afternoon trade. Tokyo has opened down another -0.7%. Hong Kong is up +0.3% at its open. Shanghai is up +0.5% from yesterday. Singapore is up +0.2% at its open. Wall Street ended its Monday session up +1.6% on the S&P500 making back about half of Friday’s big drop.<\/p>\n

OIL SLIPS
The oil price in the US is down almost -50 USc at just over US$59.50\/bbl and the international Brent price is now just on US$63.50\/bbl.<\/p>\n

CARBON PRICE HOLDS
There have been a few trades today and the price has firmed slightly to $56\/NZU. The next official carbon auction is on December 3, 2025 and likely heading for another failure. See our daily chart tracker<\/a> of the NZU price for carbon, courtesy of emsTradepoint<\/a>.<\/p>\n

GOLD RISES FURTHER
In early Asian trade, gold is up +US$66 from yesterday at this time, now at US$4140\/oz and new highs. Silver is up at almost US$53\/oz.<\/p>\n

NZD EASES
The Kiwi dollar has slipped -20 bps from yesterday, now at 57.2 USc. Against the Aussie we are down -10 bps at 87.9 AUc. Against the euro we are up +10 bps at 49.5 euro cents. This all means the TWI-5 is down -10 bps at just under 61.9.<\/p>\n

BITCOIN DIPS
The bitcoin price is now at US$114,322 and down -1.4% from this time this time yesterday. Volatility has again been low, just on +\/- 0.9%.<\/p>\n

Select chart tabs<\/p>\n

US$
\n AU$
\n TWI-5
\n \u00a5en
\n \u00a5uan
\n \u20acuro
\n GBP
\n Bitcoin<\/p>\n

Select chart tabs<\/p>\n

1 year %
\n 2 years %
\n 3 years %
\n 4 years %
\n 5 years %
\n 7 years %
\n 10 years %<\/p>\n

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\n <\/a>\n<\/p>\n

This soil moisture chart is animated here<\/a>.<\/p>\n

Keep abreast of upcoming events by following our Economic Calendar here \u00bb<\/a>.<\/p>\n

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