With fixed rates having increased we once again look at mortgage strategies, but nothing has really changed from our previous recommendations. It is all about having a clear strategy and not wavering when confronted with irrational market panic!
Short term rates have not increased (and are not increasing) so it worries me when I hear everyone saying things like “rates are going up.” To be specific, only long-term rates are going up – and you need to consider your strategy accordingly.
Having done over 1,500 mortgage reviews in three months, we thought we should analyse some of the data (without going overboard) to see what it told us
2009
What Rate is Best? Post-OCR Rate Update
Filed under: Interest Rates, Mortgages, NZ Economy
On March 12, the Reserve Bank decreased the official cash rate (OCR) by 0.50%, from 3.50% to 3.00%. It is a dynamic world out there so we’ll keep amending this blog entry as banks respond to the OCR change.
2009
Weighing Up the Costs: Buy Now or Wait for Next Year?
Filed under: Housing Market, Interest Rates, Mortgages, NZ Economy
Don’t get too focused on the absolute interest rate. Simply being able to buy, and buying well, are where you will make money in the property market at the moment.
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