mortgage rates

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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. [...]

2019-08-21T20:14:28+12:0021/08/2019|Categories: Blog|Tags: , , , , |

Best bank mortgage

Who has the best bank mortgage? Who has the best bank mortgage is an important question when you are looking to buy a home or refinance a current home, but it may not be a bank at all, but rather a Non-Bank lender who are who are not banks, more defined, not a registered trading bank. The leading trading banks have the majority of mortgage lending in New Zealand, and also they give us a sense of security when it comes to lending.  We can walk into their offices, talk face to face with staff, see their fleet vehicles driving around [...]

Will our lowest home loan rates continue?

  Will our lowest home loan rates continue? In my opinion, yes, but for how long is the million dollar question. Right now, we have the lowest home loan rates for decades and there are no signs of home loan rates rising in the next 6 months, possibly even 12 months.  If you are one to watch mortgage rates and what they are going to do over the next few years then here are some resources to help you keep an eye on mortgage rates, and maybe you can come up with your own answer on will our lowers home loan [...]

Lowest mortgage rates

  We have seen the lowest mortgage rates for decades, and I do not recall the Official Cash Rate ever being this low.  They will most likely reduce again in the next 90 days but this is not guaranteed, but you can read more about further cuts here. So how can you take advantage of the lowest mortgage rates in years? Here are my top 3 tips which will help you position yourself to take advantage of these and to improve your long terms financial position. If your bank has reduced your payment to reflect a lower interest rate, then [...]

How do interest rates work?

If you are a homeowner, or prospective homeowner, then understanding how interest rates work is going to be valuable to you when making financial decisions.  You should have some understanding about them, as they impact you, your family, your job and pretty much most things you do. Who sets the interest rates? It is the banks who set the interest rates and they determine what rate they lend money out to borrowers.  There are a number of factors which banks consider when they are setting current rates, and this list is in no means exhaustive, but some of them are; [...]

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