What happened Monday
New Zealand's economic update shows a rise in mortgage rates and a narrow trade surplus due to high import costs, particularly for electric vehicles. The government has also provided financial support to the domestic cement industry to prevent facility closures.
Why it matters
These indicators provide a snapshot of the current economic climate in New Zealand, reflecting broader trends in trade, housing, and industrial policy.
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).
MORTGAGE RATE CHANGES Update : Heartland Bank raised its reverse mortgage rate by +24 bps today to 7.99%. All current mortgage rates are here . And note, you can compare mortgage offers with our unique calculator that takes into account other costs and cashback incentives, here .
TERM DEPOSIT/SAVINGS RATE CHANGES No changes here either. All updated term deposit rates less than 1 year are here , for 1-5 years, they are here .
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