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  1. #1
    Join Date
    Jul 2003
    Location
    Kapiti in New Zealand
    Posts
    4,031

    Default Home lenders get a breather

    Hi all,

    Its in the daily news but I thought I would chuck it in the forum as well.

    Home owners with a floating interest rates can breathe easy that their mortagage costs will not rise until at least early next year after the Reserve Bank of New Zealand (RBNZ) decided to hold its official cash rate (OCR) at 5%.

    The OCR is a benchmark, wholesale interest rate from which the retail banks and other mortgage lenders tend to fix their short term lending rates.

    Had the rate lifted by 25 basis points, it would have put about $30 extra on payments of an average mortgage at floating rates of $180,000.


    Read More->
    http://onenews.nzoom.com/onenews_det...-1-453,00.html

    Best Regards

    Marc


 

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