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Mortgage Talk

Mortgage Calculator - Image courtesy of Stuart Miles at FreeDigitalPhotos.netHouse purchases have been trickling along over the last few months, with no apparent slow on the market felt from the Reserve Bank’s imposed restrictions on lending. REINZ data show a 2.1 percent increase on October 2012, and an increase of 0.9 percent compared to September 2013.

Housing market indicators provided by the REINZ (October 2013) show house prices are up by 7.2 percent annually, Auckland up by 9.7 percent and the Central Otago Lakes a staggering 19.5 percent. [Read more…]

Mortgage Broker asks, “Who is Still Buying Houses?”

House For SaleMortgage broker says fixed interest rates for housing are rising and it looks like the honeymoon for borrowers is over.

While low interest rates and a shortage of supply of properties are going to remain for quite a while, the entry level market is set to slow significantly as the government restricts the LVR (Loan to Value Ratio). So there is a much greater deposit required, as much as 20% of the purchase price, from October 1.

Some banks have responded by [Read more…]