2009.01.17 06:42:34
The reserve bank will meet at the end of the month and if what is happening around the world is an indicator then we should see rates drop here in NZ as well.
This is fantastic news and as Interest rates on U.S. 30-year fixed-rate mortgages dropped for the 11th straight week to a record low this has spurred a surge in home refinancing loans, and refinancing to lower monthly payments should provide a bit of relief to strapped consumers amid rising unemployment and a shrinking economy.
For us here in NZ it is getting easier and easier to find cash flow positive properties, especially with the great new rates available from most lenders. Clients at LOANZ Limited and Professional Investment Services are finding it easier to also hold onto existing properties so I think this will translate to the bottom of the market being found sooner rather than later.