Interest rates uncertainty puts confused Kiwis in a fix
Monday 1 November 2004
Fixing your home loan for two years may not be the best option, reports Rob Stock.
By The LandlordConfused about interest rates and what to do about your mortgage? You are not alone.
All over New Zealand, Kiwis loaded up to the hilt with debt are trying to figure out how to weather rising home loan rates - and many are struggling.
According to research by SuperBank, 22 per cent of us are caught in two minds.
Around 15 per cent of people think rates will drop within a year but are still considering fixing their mortgage now just in case rates rise more than expected.
A further 7 per cent expect rates to keep rising but are still most concerned about getting locked into a high rate if rates fall.
With a third of all mortgage debt in fixed-term loans ending in the next six months, according to Cannex, the question is taxing an awful lot of people.
Read More - Opens in a new window
Commenting is closed
There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.