INTEREST RATES STAY LOW
Posted on November 3, 2011 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
t’s almost a broken record now, but the indicators are there that mortgage interest rates will stay as low as they are at least into the middle of 2012 and given the contraction in Europe along with China and pending drop in the Australian interest rates… it could even be extended beyond that.
Advice though, form the banks even, is to watch out for low rates for fixed mortgages 3 – 5 years and where you see something with your lender that looks like it will insulate you against the likelihood of 8% rates in a couple of years’ time, grab the opportunity! Remember, NZ’s rolling average mortgage rates this past 30 years have settled in the 7.75 – 9% area.
Filed under: REAL ESTATE | Tagged: Real Estate