Banks have been given an extra month to process their back log of Pre-approvals therefore from 1 October all loans new and pre-approvals will need to adhere to the 60% LVR restriction rules. Yesterday the OCR moved to it’s lowest rate of two percent and the dollar rose more than a cent against the greenback. It could have gone lower too due to weak global conditions.
Tag Archives | housing market
Is it now ‘business as usual’ in America for the ‘liar loans’ i.e. sub prime mortgages? These mortgages were responsible for the global financial crisis that crashed financial markets around the world and left thousands of people homeless and jobless in America and other countries.
There’s been a lot of commentary pre and post Election on New Zealand’s lack of housing in the main centres and in particular Auckland. In fact we now believe we can ride a huge building wave for years to come before supply meets demand and our economy is going to ride along with it.