The next six to 12 months could be interesting. A large number of Kiwis have opted for short-term rates, but the sense I get is that they are sitting there waiting to lock into a fixed rate
My prediction for 2010 is “slightly boring” and that extends to mortgage rates. Yes, they will go up, but not enough for you to stay awake at night and break into cold sweats.
2009
How the Market is Mispricing Mortgage Rates
Filed under: Housing Market, Interest Rates, Mortgages, NZ Economy
Mortgage rates will increase, but to a lesser extent than wholesale rates. Long-term mortgage rates are 1.00% higher than they should be and are not good value. Short-term fixed rates offer the best value for money.
Too many homeowners are preoccupied with mortgage rates when they should be focused on repaying their debt as fast as possible. Here’s how to keep your repayments constant for the life of your mortgage (“fixed for life”) but at the same time benefit from low short-term interest rates. Step one Put your mortgage over a
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