What The News won’t tell you...read on...
Interest Rate Drops
Believe it or not but fixed term interest rates have fallen late last week and this week, all main banks have reduced their fixed term interest rates.
So what does this mean?
It means better affordability. So what does this mean?
House prices will start to increase as there will more competition, more people at open homes!
Mortgage loan terms are generally as a rule of thumb in NZ 20 to 30 years….most people fix interest rates for 2 or 3 years in NZ. In the USA you can actually fix your loan for up to 30 years.
The point I am making is simple, yes interest rates are higher at the moment than what you are used to, but you will fix for 2 or 3 years and then when this term expires the rates will be lower, but you may be able to purchase with a $30 to $40K discount due to it being a buyers market which way out benefits the higher interest rate paid.
So what are waiting for get Pre-Approved today…