What happened today

MORTGAGE RATE CHANGESWestpac changed almost all their fixed rates today, and followed ASB by setting an inverted rate curve for home loans. Then Rabobank also raised many of its term deposit rates today, taking their 6 month offer to 5.00% and their 1 year offer to 5.75%. SWAP RATES TURN HIGHERWholesale swap rates likely stopped falling and started rising again today. The NZX50 is up +0.2% in late trade today and heading for a modest +0.6% weekly rise. Daily swap rates Select chart tabs 1 year % 2 years % 3 years % 4 years % 5 years % 7 years % 10 years % Opening daily rate Source: NZFMA Opening daily rate Source: NZFMA Opening daily rate Source: NZFMA Opening daily rate Source: NZFMA Opening daily rate Source: NZFMA Opening daily rate Source: NZFMA Opening daily rate Source: NZFMAThis soil moisture chart is animated here.