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Kiwis Save after Interest Rate Cuts
11 March 2011
Kiwis Save after Interest Rate Cuts
CANSTAR CANNEX releases savings table on interest rate cuts.
Canstar Cannex, Australia and New Zealand’s leading Financial Services Firm has released a table to help Kiwis estimate their mortgage repayment savings after this week’s reduction in the OCR and the lowering of Home Loan Interest rates.
The Reserve Bank lowered the OCR by 50 basis points to 2.5% on Thursday.
A home owner with a $250,000 mortgage over a 25 year term will save around $76.00 per month as a result of the interest rate reductions.
Further information can be found on Canstar’s website at www.canstar.co.nz
ENDS
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