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Rates unlikely to drop further adviser says

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Maya Breen | 12 Oct 2015, 01:11 p.m. Agree 0
HSBC set a new record low rate today but a top mortgage adviser doesn’t expect more rate drops to follow.
  • Woodsy | 12 Oct 2015, 02:38 p.m. Agree 0
    What do these guys really know ??? They might find themselves getting sued like the banks if clients take their "advice" .....
  • James | 13 Oct 2015, 10:11 a.m. Agree 0
    He is saying something contrary on his own website:

    https://www.squirrel.co.nz/auckland-property-mortgage-update/

    Which one do we believe?
  • Geoff Peterson | 17 Dec 2015, 10:22 a.m. Agree 0
    Here are my thoughts on rates.

    (I have been an Adviser in Mortgage and Insurance for approx 18 years).

    They will move up or down when the market conditions are such that they have to move.

    Currently we have downside movement due to slower economic performance in NZ, as the Reserve Bank uses the OCR as a tool to either reduce or increase cash flow in the economy, which in turn has a direct impact on the inflation level.

    If business in NZ has a down turn next year, or does not perform as expected, we may see the rate drop further.

    However if it remains as it is now, with moderate growth predicted, we may not see any changes at all, until growth either goes up or down enough to warrant making an adjustment.

    My feeling is we will have stable rates for the next 3 years at least.

    Merry Christmas Everyone.

    Geoff Peterson
  • NoNonCents | 15 Aug 2016, 09:46 a.m. Agree 0
    Got that wrong didn't he!
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