Whangarei based Key Mortgages director Jeremy Andrews says clients who are pre-approved are still motivated buy a house quickly.
“It might be a little bit of that same kind of Covid feeling when people were thinking ‘well it's hard to travel, if we're not going to do that let's put our spare savings into buying a house or paying down our mortgage’.”
He says while people can travel during this oil shock, it is the cost of fuel that it is putting them off. “A lot of people are maybe thinking they might as well renovate their house or buy an electric vehicle at low interest rates and inquiry for loans to do that have picked up significantly.”
For bigger decisions Andrews says most people are taking a wait and see approach on how the Iran war impacts oil prices and the economy long-term.
Full article here: Mortgage enquiries sink as war drags on and interest rates rise - TMM Online
Key Mortgages comments with Tony Alexander and TMM Online the prospect of whether rising interest rates and global tensions are prompting a more cautious approach from buyers. Is mortgage demand softening as households take time to reassess affordability and market conditions?
NZ Banks are offering cash incentives to retain existing home loan clients. Jeremy of Key Mortgages summarizes with NZ Herald, whether to switch or stay depends on factors like break fees, equity, and overall costs. We can help and negotiate with your current bank to find which is the smarter move.
Key Mortgages recently joined Ryan Bridge on Newstalk ZB, to discuss the recent jump in mortgage rates and what it means for Kiwi borrowers.
Key Mortgages shares details with Good Returns how expanded low-deposit lending options may help eligible first home buyers enter the market sooner and with better pricing
As featured in Stuff, buying property with friends or family can improve affordability, but clear agreements and proper structure are essential.
Banks and Mortgages advisers discuss with New Zealand Herald, why home loan approvals may take longer as lenders apply more detailed affordability checks and tighter financial assessments.
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