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Canstar Cannex Releases Home Loan Star Ratings
CANSTAR CANNEX Releases Home Loan Star Ratings
CANSTAR CANNEX has just released the latest Star Ratings for home loans in New Zealand. Attached is a copy of the Star Ratings and the media release, which are also published on www.canstar.co.nz
It’s taken over five years for interest rates to climb from 4.75% to their peak of 8.25% and under 12 months to crash back down to an all-time low of 2.5%. After hitting the heights in late 2007 and early 2008, rates have been in freefall but it’s likely that the Reserve Bank of New Zealand (RBNZ) is nearing the end of this unprecedented round of rate cuts. It’s unlikely that we will see the same heady lows as the United States whose official cash rate is currently approaching zero or the United Kingdom at 0.5%. “There’s no doubt home owners would still welcome any further rate cuts the Reserve Bank could serve up before the turnaround when the economy stabilises and rates head north again,” CANSTAR CANNEX financial analyst Frank Lopez said.
Full Home Loan Release May 09 (pdf)
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