Climate change is really eh
Politics 🗳️ NZ Politics
- Thread starter wizard of Tauranga
- Start date
Climate change is really eh
Noitall
👤
Very odd patterns. Very tropical like the rainy season in the islands
Noitall
👤
Stuff: Latest breaking news | New Zealand
www.stuff.co.nz
Not really for the political thread but a bad one here in the mount. Stay safe everyone
Hopefully you guys are safe in the MountStuff: Latest breaking news | New Zealand
Not really for the political thread but a bad one here in the mount. Stay safe everyone
We are in Brookfield and we have had a lot of rain but no damage.
Take care
Ben Torkington (@bentorkington.bsky.social)
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Noitall
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View: https://www.facebook.com/share/v/1Kj8oQzLon/?mibextid=wwXIfr
5 missing and one a 4 year old apparently. Absolutely tragic. Big clean up around the country
- Thread starter
- #22,148
Tragic. Thoughts with the families involved.Hopefully you guys are safe in the Mount
We are in Brookfield and we have had a lot of rain but no damage.
Take care
I walked down there this evening and it’s a massive slip. There’s also slips all around the mountain blocking the walkways.
I wonder if the camp will ever reopen?
- Thread starter
- #22,150
I don’t live in a tent fortunately. This isn’t post WW2 Tauranga anymore like when you grew upObviously you are safe where you are Wiz.
Take care
miket12
🏛️
The rise of the Winnie.... be afraid!! Be VERY afraid!!!!!
www.nzherald.co.nz
NZ First starts election year on high in new poll
Winston Peters' party has recorded its best-ever result in this poll.
- Thread starter
- #22,152
Reports of 274mm of rain in 24 hours in Tauranga, comparable to the 245-280mm in Auckland in 2023 and the most in 110 years of recorded history in Tauranga.Obviously you are safe where you are Wiz.
Take care
To be honest, just seemed like a stormy night and not much different to other storms, until you see the flooding everywhere this morning.
Yeah that is a concernThe rise of the Winnie.... be afraid!! Be VERY afraid!!!!!
NZ First starts election year on high in new poll
Winston Peters' party has recorded its best-ever result in this poll.
Yes Wiz. In my time back in Tauranga I have become aware of the effects that the Kaimais have on the weather.
miket12
🏛️
My personal opinion.... unless you're either using a revolving credit (i.e. BNZ rapid repay) facility or an offset mortgage, I don't think you should have any portion of a mortgage on floating....
An abnormally high 49% of new mortgage lending done in November went on floating rates, new Reserve Bank data show.
Borrowers were likely waiting for rates to fall further before fixing them for longer terms.
Indeed, the Reserve Bank cut the Official Cash Rate (OCR) by 25 basis points to 2.25% on November 26, as expected.
However, in the following weeks, banks started lifting their longer-term mortgage rates, leaving borrowers on floating rates, hoping to lock in fixed rates at the lowest point of the cycle, little time to move.
The reason rates rose, despite the OCR cut, was that traders in financial markets weren’t expecting the Reserve Bank to suggest, quite as strongly as it did, that it was unlikely to cut the OCR again in this cycle.
The surprising hawkishness of the Reserve Bank saw wholesale interest rates spike, which prompted banks to lift their longer-term mortgage rates by about 30 basis points throughout December.
As news of banks lifting rates trickled in, New Zealand Financial Services Group and Loan Market chief executive Bruce Patten said borrowers flocked to secure fixed mortgage rates.
“It was nuts,” he said, noting brokers were busier earlier than usual after the holidays this year.
Exactly how much of a stampede there was will be known once the Reserve Bank releases its December mortgage data next month.
However, the window of time borrowers had to lock in longer-term fixed rates after the OCR cut and before they started rising was narrow.
The day after the November 26 OCR cut the Herald first reported the fact wholesale rates had shifted higher and quoted an analyst who believed mortgage rates would start rising in early 2026.
However, on December 9, Westpac announced it would lift its longer-term mortgage and term deposit rates by 30 basis points. Other banks followed, similarly lifting their rates, and/or doing away with the discounts they typically offer.
Economic data released since then suggests the New Zealand economy may not be as cool as previously assumed. December-quarter inflation figures due out on Friday will provide more of steer on this.
But available data suggests it is highly unlikely mortgage rates will fall further.
The best time to have locked in rates for two or three years was likely November, when the largest portion of new mortgage lending done in a month since Reserve Bank records began in 2021 was put on floating interest rates.
Borrowers largely tended to opt for floating and shorter-term fixed rates throughout 2025 as they anticipated further rates cuts.
However, 49% marked an abnormally large portion of new lending being put on floating rates. The average since 2021 is 24%.
In November, 22% of new mortgage lending was fixed for a year, 10% for two years and 3% for three years.
Economist Tony Alexander believed there wasn’t much pressure on banks to lift mortgage rates again in the near-term.
Wholesale interest rates had dropped back. Reserve Bank Governor Anna Breman made a fairly unusual move, issuing a statement to talk the market down in mid-December. She discussed her call in an interview with the Herald a couple of days later.
While banks were worried their margins were being squeezed, as wholesale rates rose rapidly in early December, Alexander said they were now fatter.
Looking further down the track, he believed there would be some upward pressure on inflation and therefore mortgage rates.
While the OCR affects shorter-term rates, international money markets influence longer-term rates.
Looking abroad, monetary policy is due to be tightened in Australia. Meanwhile, if US President Donald Trump pressures the Federal Reserve to cut interest rates to stimulate the economy, this could cause inflation – and therefore higher interest rates to get on top of it in the medium-term.
Alexander concluded that while the risk was that mortgage rates would drift higher throughout 2026, it was impossible to pick the speed at which they would move.
The Reserve Bank’s Monetary Policy Committee will next review the OCR on February 18.
The meeting will be Breman’s first as Governor and chairwoman of the committee.
www.nzherald.co.nz
Mortgage rates: Bunch of floating borrowers miss the boat on lowest rates
A bunch of homeowners who tried to pick the trough in this interest rate cycle likely missed it.An abnormally high 49% of new mortgage lending done in November went on floating rates, new Reserve Bank data show.
Borrowers were likely waiting for rates to fall further before fixing them for longer terms.
Indeed, the Reserve Bank cut the Official Cash Rate (OCR) by 25 basis points to 2.25% on November 26, as expected.
However, in the following weeks, banks started lifting their longer-term mortgage rates, leaving borrowers on floating rates, hoping to lock in fixed rates at the lowest point of the cycle, little time to move.
The reason rates rose, despite the OCR cut, was that traders in financial markets weren’t expecting the Reserve Bank to suggest, quite as strongly as it did, that it was unlikely to cut the OCR again in this cycle.
The surprising hawkishness of the Reserve Bank saw wholesale interest rates spike, which prompted banks to lift their longer-term mortgage rates by about 30 basis points throughout December.
As news of banks lifting rates trickled in, New Zealand Financial Services Group and Loan Market chief executive Bruce Patten said borrowers flocked to secure fixed mortgage rates.
“It was nuts,” he said, noting brokers were busier earlier than usual after the holidays this year.
Exactly how much of a stampede there was will be known once the Reserve Bank releases its December mortgage data next month.
However, the window of time borrowers had to lock in longer-term fixed rates after the OCR cut and before they started rising was narrow.
The day after the November 26 OCR cut the Herald first reported the fact wholesale rates had shifted higher and quoted an analyst who believed mortgage rates would start rising in early 2026.
However, on December 9, Westpac announced it would lift its longer-term mortgage and term deposit rates by 30 basis points. Other banks followed, similarly lifting their rates, and/or doing away with the discounts they typically offer.
Economic data released since then suggests the New Zealand economy may not be as cool as previously assumed. December-quarter inflation figures due out on Friday will provide more of steer on this.
But available data suggests it is highly unlikely mortgage rates will fall further.
The best time to have locked in rates for two or three years was likely November, when the largest portion of new mortgage lending done in a month since Reserve Bank records began in 2021 was put on floating interest rates.
Borrowers largely tended to opt for floating and shorter-term fixed rates throughout 2025 as they anticipated further rates cuts.
However, 49% marked an abnormally large portion of new lending being put on floating rates. The average since 2021 is 24%.
In November, 22% of new mortgage lending was fixed for a year, 10% for two years and 3% for three years.
Economist Tony Alexander believed there wasn’t much pressure on banks to lift mortgage rates again in the near-term.
Wholesale interest rates had dropped back. Reserve Bank Governor Anna Breman made a fairly unusual move, issuing a statement to talk the market down in mid-December. She discussed her call in an interview with the Herald a couple of days later.
While banks were worried their margins were being squeezed, as wholesale rates rose rapidly in early December, Alexander said they were now fatter.
Looking further down the track, he believed there would be some upward pressure on inflation and therefore mortgage rates.
While the OCR affects shorter-term rates, international money markets influence longer-term rates.
Looking abroad, monetary policy is due to be tightened in Australia. Meanwhile, if US President Donald Trump pressures the Federal Reserve to cut interest rates to stimulate the economy, this could cause inflation – and therefore higher interest rates to get on top of it in the medium-term.
Alexander concluded that while the risk was that mortgage rates would drift higher throughout 2026, it was impossible to pick the speed at which they would move.
The Reserve Bank’s Monetary Policy Committee will next review the OCR on February 18.
The meeting will be Breman’s first as Governor and chairwoman of the committee.
Home-loan gamble backfires as floating borrowers likely miss the bottom
Those hanging out for rates to fall in December might have missed the boat.
As we get slammed with extreme weather again and again, and more lives are needlessly lost, this government, in thrall with the fossil fuel industry and the far right, ignores science and continues to degrade this nation
www.rnz.co.nz
Government rejects all of Climate Change Commission's emissions target recommendations
It comes despite a Climate Change Commission warning that New Zealand is being hit sooner and more severely than expected.
www.rnz.co.nz
Noitall
👤
Makes you consider whether ice melting is going exactly to plan creating shipping lanes and unearthing minerals below ice?As we get slammed with extreme weather again and again, and more lives are needlessly lost, this government, in thrall with the fossil fuel industry and the far right, ignores science and continues to degrade this nation
Government rejects all of Climate Change Commission's emissions target recommendations
It comes despite a Climate Change Commission warning that New Zealand is being hit sooner and more severely than expected.
And here we go. Hard right, this government going full trump
www.rnz.co.nz
'Unelected globalist bureaucrats' - Peters praises United States' WHO withdrawal
The United States has officially exited the WHO, a year since President Donald Trump gave notice via executive order.
www.rnz.co.nz
Does make you wonder, denying climate change while at the same time beating war drums over new shipping lanes opening as the ice caps melt, there's some kind of cognitive dissonance going on here.
Gummy bear
Guest
Why were lives lost at the base of Mauo? Because of the very wet weather? Ask yourself why the land slide occurred in the least steep part of the mountain. The answer is because the steeper sections have vegetation. The pohutukawa stabilize the cliff faces. Where these wonderful trees have been removed the land is less stable. The real issue is habitat destruction not some climate. mumbo jumbo.As we get slammed with extreme weather again and again, and more lives are needlessly lost, this government, in thrall with the fossil fuel industry and the far right, ignores science and continues to degrade this nation
Government rejects all of Climate Change Commission's emissions target recommendations
It comes despite a Climate Change Commission warning that New Zealand is being hit sooner and more severely than expected.
