OCR predictions from the experts and interest rate increases in March;
Posted on February 13, 2014 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
Time to secure that property, as the experts predict interest rate increases on the horizon. Westpac predict increases in the OCR (Official Cash Rate) in April, June, September and December reaching 3.75%. BNZ and ASB predict that in March the Reserve Bank will move in to rebalance the OCR. The OCR has an immediate influence on our home mortgage and borrowing, therefore watch an expected increase in interest rates over this period of time as well. Tony Alexander (Chief BNZ Economist) expects floating rates to rise by 1.25% in March.
Filed under: REAL ESTATE