Credit and lending decisions are increasingly being made by “Head Office.” This can have unwanted outcomes that you need to be wary of. More than ever it is important to plan your mortgages and split your relationship across multiple banks
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Mortgage rates are forecast to bottom out around June 2009. Short term rates could get as low as 5.50% with longer-term rates getting down to around 6.00%-6.50%. In my opinion that means taking a six month fixed rate now at 6.50%-6.90% is the best option. In six months you can then look to split your mortgage into multiple fixed rates and spread them over 3-5 year fixed terms
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First Home Buyers: Ready, Steady, Go!
Filed under: First Home Buyers, Mortgages, NZ Economy
Don’t be put off by the pessimists. Our view is that (if you can borrow) there are great deals to be had in the current market, but you have to be actively looking to find them, and it is hard work!
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As I get older (by the day!) I’m learning that financial commentators are no better at predicting the future than my pet snail Bob. (Bob will likely have a fairly short life because my wife is a gardener and he won’t be able to resist the strawberries.) Has anyone else spotted how often financial commentators
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Mortgage Rates on the Way Down
Filed under: Housing Market, Interest Rates, Mortgages, NZ Economy
Last week the Reserve Bank dropped the official cash rate (OCR) by 1.00% to 6.50% – and immediately banks decreased their mortgage rates. The best rates out there today amongst the major banks are 7.95% for six months and 7.90% for one year (forget anything past one year). What excites us is to finally see
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