A mortgage broker is advising people to hedge their bets as uncertainty continues over upcoming Official Cash Rate announcements.
Centrix is hoping the Reserve Bank will make more cuts, as its latest Credit Indicator report shows almost half a million New Zealanders are behind on repayments, with consumer arrears levels up 1.3%.
Key Mortgages' Jeremy Andrews told Andrew Dickens people shouldn't necessarily hope rates will drop.
He suggests fixing loans midterm, adding he's never seen so many people with floating rates.
The next OCR announcement is due in a fortnight on February 19.
Key Mortgages suggests keeping up higher repayments following fixed mortgage rate to currently 4.49%. Repayments over a 20 year term are now similar to what peak market rates payments were over a 30-year loan term.
Jeremy chats with Andrew from NewsTalk ZB about OCR drops affecting mortgage market, turnaround times, and increasing demand.
Key Mortgages shares detail on how credit rating scores can impact your ability to borrow. Talk to us for more information on how to put your best foot forward with main banks
Kāinga Ora loan premium rises to 1.2% post July; Key Mortgages’ Jeremy Andrews says it’s still a good option for many first home buyers
Jeremy Andrews shares some tips and examples with RNZ where bad credit borrowers may still get loans with good explanations, equity, recent history.
Trump’s tariff war hit KiwiSaver balances, affecting first-home buyers' deposits, reports goodreturns.co.nz. Key Mortgages notes increased pressure on buyers and urges shifting to conservative funds and seeking advice to avoid further deposit setbacks amid Trump’s tariff war.
.svg)
.svg)
