Lower Mortgage Rates

Lower Mortgage Rates? On Monday 12th August 2019 the OCR was reduced to only 1% which dictates what our retail mortgage rates are.  With the latest reduction in the  OCR will we see much lower mortgage rates and more flexible lending criteria?. Firstly, let's take a look at what OCR means, and for those of you who are maybe more technically savvy than financially savvy, OCR in this case does not mean Optical Character Recognition, but rather the Offical Cash Rate! Here is a quick video from the Reserve Bank of New Zealand that will explain what the OCR does. [...]