A review of things you need to know before you go home on Tuesday; more housing choice, QV price records, commodity prices jump, swap rates up +3 bps, NZD slips then recovers

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

TODAY’S MORTGAGE RATE CHANGES
There are no changes to report today.

TODAY’S DEPOSIT RATE CHANGES
Today, only NZCU Baywide made a change, reducing term deposit rates.

MORE CHOICE
House buyers getting more choice as new listings rise and average asking prices fall on realestate.co.nz. In Auckland, there are less than 10 weeks of listing inventory available at current sale rates, nationally there are 16 weeks available. In Canterbury it is 17.5 weeks and Wellington 10 weeks.

ANOTHER NZ WIN
New Zealand led the developed world with equity market gains in October gaining +13.3% on the month, followed by Germany (+10.1%), and Japan (+9.3%). This data is from S&P. 2015 to date we don’t look so hot however, with equities here down -10.4%.

BACK-TO-BACK
The ANZ Commodity Price Index rose +6.9% in October – the second consecutive monthly increase. “The lift in the overall index was again driven by rebounding dairy prices. However, non-dairy prices declined for the sixth consecutive month. The strengthening NZD trimmed local currency gains, with the NZD index up +2.9% but it’s still up nonetheless,” said ANZ.

THE $918,153 STRATOSPHERE
Housing values keep rising, pushed up by migration and low interest rates, says QV. Nationally, house prices in were +14% higher in October than a year earlier – the fastest pace of growth in almost a decade. Such rapid growth is becoming normal, led by Auckland, up +24% year-on-year in October. House price inflation in Hamilton, Waikato, and Tauranga is also at double digit rates.

BUYING LOCAL
Tainui-owned Go Bus has awarded a $13 mln contract to Christchurch-based Design Line for 29 new buses as replacements in their Dunedin, Hawkes Bay and Christchurch fleets.

REMOVING BLOCKAGES
The Government will allow councils to transfer functions and responsibilities between regional councils and territorial authorities. “We want to give local government a broader range of structures to choose from, helping councils focus on region-wide economic growth and making sensible decisions about infrastructure development beyond one council’s boundaries,” said Paula Bennett.

DIFFERENT STANDARDS
Today, Auckland has recorded ‘good’ air pollution levels (AQI = 13). Auckland is reputed to be the worst in New Zealand for air quality. On the other hand Shanghai is reporting ‘moderate’ air pollution (AQI = 130). Yesterday Shanghai AQI hit 160. WDKHLWA.

WHOLESALE RATES RISE
Wholesale swap rates rose +3 bps across the curve today, but the 90 day bank bill rate is unchanged at 2.95%. These markets may be influenced by decisions in half an hour by the RBA (at 4:30 NZ time). Update: no change at 2.0%.

NZ DOLLAR HOLDS
Today our dollar slipped for most of today from where it was at this time yesterday but has now recovered almost all that sag. It is now at 67.7 USc, at 94.4 AUc and 61.4 euro cents. The TWI-5 is still at 72.8. Check our real-time charts here.

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

Daily exchange rates

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