A review of things you need to know before you go home on Monday; mortgage rates fall, housing markets active, food costs less, China trade lower, interest rates rise

Here are the key things you need to know before you leave work today.

TODAY’S MORTGAGE RATE CHANGES
Two important changes today. Firstly, SBS Bank set a new market low rate of 4.85% for their 18 month ‘special’. And then Westpac chose 4.89% for their two year ‘special’, a rate that their main rivals are using for a one year term, including Kiwibank who got there on Saturday.

TODAY’S DEPOSIT RATE CHANGES
Heartland Bank, and Kookmin Bank both reduced term deposit rates today.

ACTIVE HOUSING MARKETS
The median house price fell nationally to $450,000 in June from $460,000 in May according today’s data release by REINZ. As has been well reported elsewhere, the situation is quite different in Auckland which is on a price bender, rising and unsustainable +25.8% in the same period to a median of $755,000. Nationally and excluding the Queen City, the volume of June house sales were at their highest level since 2007; for Auckland since 2006.

FOOD COSTS LESS
In the year to June 2015, food prices decreased -0.1%, Statistics New Zealand said today. This drop follows eight consecutive food price increases since the year to October 2014. Grocery food prices decreased -2.1% over the year, influenced by lower prices for fresh milk and bread. Prices for meat, poultry, and fish also decreased – down -1.9% from June 2014. Today’s data confirms our own grocery price tracking.

CHINA TRADE LOWER
China’s June trade balance was lower than expected. Exports rose in June after falling in May and the rise was a bit more than analysts anticipated. Imports fell -6% from May, but far less than was expected. (In May they fell -17%.) There is a much lower link between equity markets and the economy in China than elsewhere.

WHOLESALE RATES STEEPEN
NZ swap rates rose by about +2 bps across the curve today. The 90 day bank bill rate also rose and was up +1 bp to 3.18%.

NZ DOLLAR FLAT
The NZ dollar has meandered today. It is at 67.4 USc, at 90.5 AUc, and 60.6 euro cents. The TWI is still at 71.7. Check our real-time charts here. There was talk into the night between the EU and Greece and signs of compromise

You can now see an animation of this chart. Click on it, or click here.

Daily exchange rates

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var chart_subtitles_arr= ["Daily benchmark rate","Daily benchmark rate","Daily benchmark rate","Daily benchmark rate","Daily benchmark rate","Daily benchmark rate","Daily benchmark rate"];
var tab_titles_arr= ["US$","AU$","TWI","u00a5en","u00a5uan","u20acuro","GBP"];
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else if (arr.length < 536)
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var b = 537 – arr.length;
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else if(arr.length == 536)
{
var b=2;
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// to generate the format for date representation in x axis

var timestamweek = 604800000;
var timestamday = 86400000;
var timestammonth30 = 2592000000;
var timestammonth31 = 2678400000;
var timestamyear = 31536000000;
var timestamquarterly = 7776000000;

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var yy1=fomat.substring(k2+1,k3+1);

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//+++++++++++++++++++++++++++++++++++
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do {
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var k2=k;

do {
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var k3=k;

var dd= fomat.substring(0,k1);
var mm = fomat.substring(k1+1,k2);
var current_year=""+new Date().getFullYear();
var c_year=Number(current_year.substring(2,4));
var c_data=Number(''+fomat.substring(k2+1,k3+1));
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var yy = “19”+fomat.substring(k2+1,k3+1);
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// conversion of months into numerical form

//+++++++++++++++++++++++++++++++++++
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mm= “04”;
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mm= “05”;
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mm= “06”;
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mm= “07”;
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else if (mm == “Aug”)
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mm= “08”;
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else if (mm == “Sep”)
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mm= “09”;
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else if (mm == “Oct”)
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mm= “10”;
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else if (mm == “Nov”)
{
mm= “11”;
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else if (mm == “Dec”)
{
mm= “12”;
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// +++++++++++++++++++++++++++++++++++++++++++++++++++++++

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var timestam_1 = Date.parse(date);
var timestam= timestam_1+86400000; //86400000 added to get correct timezone output from Date.parse
var time4 = new Date(timestam);
var Weeko = time4.getDay();
var dd2 = time4.getDate();
var mm2 = time4.getMonth();
var flag_y=arr[i][1];
var ahref_title=”Click here for full story”;
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var url=arr[i][2];
var flag_date='{“x”:’+timestam+’, “title”:”  “,”text”:”Click here for Story!”}’;

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var yy3 = yy2+””;
var yy4= yy3.substring(2,4);
//++++++++++++++++++++++++this for days conversion++++++++++++++++++++++++++++
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Weeko = “Sat”;
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Weeko = “Sun”;
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//+++++++++++++++++++++++this is for month conversion+++++

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mm2 = “Jan”;
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mm2 = “Feb”;
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mm2 = “Mar”;
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mm2 = “Apr”;
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mm2 = “May”;
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else if (mm2==5)
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mm2 = “Jun”;
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mm2 = “Jul”;
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mm2 = “Aug”;
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mm2 = “Sep”;
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mm2 = “Oct”;
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mm2 = “Nov”;
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mm2 = “Dec”;
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fomat2=dd2+”-“+mm2+”-“+yy4;
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var yy = "20"+fomat.substring(k2+1,k3+1);

// conversion of months into numerical form

//+++++++++++++++++++++++++++++++++++
if (mm == "Jan")
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mm= "01";
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else if (mm == "Feb")
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mm= "02";
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else if (mm == "Mar")
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mm= "03";
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else if (mm == "Apr")
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mm= "04";
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mm= "05";
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else if (mm == "Jun")
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mm= "06";
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else if (mm == "Jul")
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mm= "07";
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else if (mm == "Aug")
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mm= "08";
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else if (mm == "Sep")
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mm= "09";
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else if (mm == "Oct")
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mm= "10";
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else if (mm == "Nov")
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mm= "11";
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else if (mm == "Dec")
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mm= "12";
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//here flagAr may be
var timestam = Date.parse(date);
var time4 = new Date(timestam);
var Weeko = time4.getDay();
var dd2 = time4.getDate();
var mm2 = time4.getMonth();

var yy2 = time4.getFullYear();
var yy3 = yy2+"";
var yy4= yy3.substring(2,4);
//++++++++++++++++++++++++this for days conversion++++++++++++++++++++++++++++
if (Weeko==1)
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Weeko = "Mon";
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else if (Weeko==2)
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Weeko = "Tue";
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else if (Weeko==3)
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Weeko = "Wed";
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else if (Weeko==4)
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Weeko = "Thu";
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else if (Weeko==5)
{
Weeko = "Fri";
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else if (Weeko==6)
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Weeko = "Sat";
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else if (Weeko==0)
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Weeko = "Sun";
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//+++++++++++++++++++++++this is for month conversion+++++

if (mm2==0)
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mm2 = "Jan";
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else if (mm2==1)
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mm2 = "Feb";
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else if (mm2==2)
{
mm2 = "Mar";
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else if (mm2==3)
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mm2 = "Apr";
}

else if (mm2==4)
{
mm2 = "May";
}

else if (mm2==5)
{
mm2 = "Jun";
}

else if (mm2==6)
{
mm2 = "Jul";
}

else if (mm2==7)
{
mm2 = "Aug";
}

else if (mm2==8)
{
mm2 = "Sep";
}

else if (mm2==9)
{
mm2 = "Oct";
}

else if (mm2==10)
{
mm2 = "Nov";
}

else if (mm2==11)
{
mm2 = "Dec";
}
//++++++++++++++++++++++++++++++++++++++++

//weekly
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fomat2=dd2+"-"+mm2+"-"+yy4;
}

// Daily
else if ( timestamvar = timestamyear)
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fomat2=mm2+”-“+yy4;
}

//monthly
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{
fomat2=mm2+”-“+yy4;
}

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var decpad;

decpad = parseFloat(arr[i][1]);
//arr[i][1] = roundVal(decpad);
arr[i][1] = decpad;
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var xvalu=dd2+”-“+mm2+”-“+yy4;
var yvalu= String(arr[i][1]);
var xyvalu=”Latest value at “+xvalu+” is “+yvalu;
updt=”Updated on “+xvalu;
}
}

}
}

//other required functions

//chart configuration starts here

function getXMLHttpRequest(file) {

//var arrSignatures = [“MSXML2.XMLHTTP.5.0”, “MSXML2.XMLHTTP.4.0″,
//”MSXML2.XMLHTTP.3.0”, “MSXML2.XMLHTTP”,
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//for (var i=0; i < arrSignatures.length; i++) {

try
{
var xmlhttp = new window.XMLHttpRequest();
xmlhttp.open("POST",file,false);
return xmlhttp;
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catch(e)
{
error=e.message;
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throw new Error("MSXML is not installed on your system.");
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function readCSV(locfile) {
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var req = new getXMLHttpRequest(locfile);
//req.open("POST",locfile,false);
req.send("");
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}

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lineCSV[lineCSV.length-1]=lineCSV[lineCSV.length-1].replace(/^s*|s*$/g,"");
var fstart = -1;

for (var i=0;i=0) {
for (var j=fstart+1;j<=i;j++) {
lineCSV[fstart]=lineCSV[fstart]+","+lineCSV[j];
lineCSV[j]="-DELETED-";

}
fstart=-1;
}
}
fstart = (lineCSV[i].match(/^"/)) ? i : fstart;
}

var j=0;

for (var i=0;i<lineCSV.length;i++) {
if (lineCSV[i]!="-DELETED-") {
CSV[j] = lineCSV[i];
j++;
}

}

return CSV;
}

function roundVal(val_num){
var dec = 2;
var result = Math.round(val_num*Math.pow(10,dec))/Math.pow(10,dec);
return result;
}

function setdecimalpoints(deca)
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var deca1= deca;
var deca2= parseInt(deca);
if((deca1-deca2)!=0)
{
return 2;
}
else
{
return 0;
}
}
for(i=0;i

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