colinrealestate

Good news from Dr Bollard recently! In raising the Official Cash Rate -the device that sets virtually all lending interest rates- by 0.25%, he commented that in view of the sluggish internal economy, he felt it unlikely that interest rates would rise much more in the next 18 months.

Many will now adjust to Variable or Floating rate mortgages given that Fixed Rate loans are going to feature higher interest rates.

What that means is we can budget with some certainty, while taking advantage of Variable rates under 6.5%. These Variable Rates should remain well below what most Fixed Rates have been marketed at during the past couple of years.

Other than during the extremes of last year, we haven’t seen mortgage rates this low since the 1960’s!

To keep yourself up to date with current mortgage rates across nearly all lenders (major banks, minor banks and non-bank lenders), see all rates on offer (floating, along with fixed rates from 6 months to five years), and to check and compare what you can get, go to www.mortgagerates.co.nz.
Daily mortgage rates, mortgage calculators and more.

Filed under: REAL ESTATE | Tagged: Real Estate