OCR unchanged at 2.5%

The Offical Cash Rate announcement today was expected... and once again the Reserve Bank Govenor stated "it remains appropriate for the OCR to be held at 2.5 percent" - economic growth has slowed in recent months and has been accompanied by low inflation and rising unemployment. Read the full announcement here

"Repairs and construction in Canterbury continue to gather pace, and the housing market is strengthening, particularly in Auckland. Lower funding costs for New Zealand banks, along with increased competition for lending, have seen mortgage interest rates reduce."

From our perspective, people are on the move and making decisions on purchasing property. We have noticed a definite increase in activity within our mortgage brokers - for some months now; the lenders have opened up to higher levels of lending and clients are taking advantage of the competitive nature of the banks and their offerings - which continue to include cash back, give aways and negotiation on interest rates.

Our team of mortgage brokers are skilled, experienced and respected with the lenders - if you want us to work for you; or just want to have a chat over coffee to discuss your situation, call us anytime on 0800 823 823 or visit our team here >>>

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