MORTGAGE RATES STABLE INTO 2012, SLOW TO CLIMB THEREAFTER
It has been confusing lately with some banks going on and on about the likelihood of mortgages interest rates increasing around the end of the year rather than later! At the same time, non-bank commentators have stayed firm in the view that the economic recovery, if you could call it that yet, is so sluggish that the increases will come later.
To settle it all down, Reserve Bank Governor, Dr Allan Bollard, came out with the categoric statement that there will be no change to the lowest mortgage interest rates in over 40 years until next Autumn and even then any rate of increase would be conservative and slow.
However, with Fixed Rate two and three year interest rates coming back to be close to Variable Rate loans, we’ve all got a strategic decision coming up soon, that’s for sure!
Filed under: REAL ESTATE | Tagged: Real Estate