ANZ advises borrowers lock in home loan rates now

ANZ economists suggest borrowers consider locking in home loan rates soon, as the Reserve Bank's recent OCR cut has driven rates below 5 percent. They anticipate the housing market will strengthen in the latter half of the year. The Reserve Bank's Wednesday cut, coupled with expected further cuts, has created a window for favorable mortgage rates. ANZ economists predict the OCR will reach 2.5 percent by October, but advise borrowers to act soon before rates begin to rise. While short-term fixes may offer further savings, the economists suggest considering longer-term options. They also note the impact of US tariffs could delay economic recovery, potentially keeping rates lower for longer.