Archive | Finance

How Low Can Mortgage Rates Go?

News of lower wholesale interest rates suggests we may be in for another round of super low home loan interest rates as early as next week. A news item on interest.co.nz provides examples of the correlation between swap rates and the mortgage rates with one example being SBS Bank’s one year rate as it was back in November 2015.

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Lending Record in December 2015

Record levels of home loans were approved in December 2015. For two weeks in a row more than $1.5 Billion of new lending was approved. In the seven days till 11 December 2015 $1.56 Billion was approved making it the highest value of home loans approved in a week since records began.

However a week later $1.59 Billion was approved making it the new record.

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Higher Loan Rates For Investors – Not Yet

Higher loan rates for property investors is now a reality in Australia. A couple of banks (ANZ, CBA) have recently raised their home loan rates for investors. The residential property market is also hot in the UK – so it’s not just an Auckland thing. A garage sold for $2m in London recently and the median house price in Sydney is now over $1m. Foreign Buyers are investing in residential property in Sydney, London and Auckland.

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Set and Forget Your Mortgage?

The hassle free approach is to set your mortgage on a fixed rate for a set timeframe and then essentially forget about it until its renewal date. For longer term fixed rate mortgages this could be five years or of course much longer now there’s the 10 year fixed rate deal with TSB. So what could you be missing out on by taking this approach with your home loans?

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