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RBNZ Interest Rate Decision: Comments From Leigh Hodgetts, Country Manager, FAMNZ
“The lowering of the OCR by 0.25% to 3.25% is welcome news to borrowers and potential home owners across New Zealand.
Finance and Mortgage Advisers Association of New Zealand members have reported a steady stream of first home buyers entering the market and the news today will bring more comfort to Kiwis as they take on new mortgages.
Banks have started to factor in the lowered rates before the announcement today.
Both 1-2 year and 3-5 year fixed term rates are looking attractive as an option to the regular short term view.
Floating rates are still popular as borrowers gamble to see if we have reached the lowest rates for 2025.
This move today may encourage Kiwis to review their loans. As always we recommend you speak with a mortgage adviser to work out the best structure for your own mortgage that will reflect your personal circumstances.”
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