OCR held at 1.75% for fifth time

By Awesome Office Team at WMB In blog No comments

The OCR (Official Cash Rate) remains unchanged again, at 1.75%, for the fifth consecutive review. “Monetary policy will remain accommodative for a considerable period. Numerous uncertainties remain and policy may need to adjust accordingly,” said Reserve Bank Governor Graham Wheeler. “Growth is expected to improve going forward, supported by accommodative monetary policy, strong population growth, […]

Read more

What is a revolving credit?

By Awesome Office Team at WMB In blog No comments

As part of numerous measures to curb access to credit, the banks have started to restrict the availability of revolving credits—mainly around the size of accessible limits, and linked to the LVR (loan to value ratio). What is a revolving credit? (also known as a flexi facility) A revolving credit is like an overdraft or […]

Read more

No change to Official Cash Rate

By Awesome Office Team at WMB In blog No comments

Today the Reserve Bank has again left the Official Cash Rate (OCR) unchanged at 1.75 percent, but suggests that the slowdown in house price inflation could be temporary. Reserve Bank Governor Graeme Wheeler says that global economic growth has increased and become more broad-based. However, major challenges remain with ongoing surplus capacity and extensive political […]

Read more

Can you pay your mortgage off quicker?

By Awesome Office Team at WMB In blog No comments

Well the year is nearly half gone and it’s anyone’s guess where interest rates and property prices will head this year. But I think it’s expected both will rise a little. Are you prepared for a future increase in interest rates? Have you made the most of recent low interest rates to pay more principal […]

Read more

Government Housing Affordability Measure study

By Awesome Office Team at WMB In blog No comments

Interesting article in the Herald recently about the Government Housing Affordability Measure (HAM) study saying that renting is cheaper than owning. There are so many variables to this study which uses average data to come up with results. Everyone’s case is different, and of course somewhere like Auckland it’s extremely difficult to buy a house. […]

Read more

Official Cash Rate held again

By Awesome Office Team at WMB In blog No comments

The Reserve Bank has left the Official Cash Rate (OCR) unchanged today at 1.75 percent. Governor Graham Wheeler said “Monetary policy will remain accommodative for a considerable period. Numerous uncertainties remain and policy may need to adjust accordingly”. ASB chief economist Nick Tuffley said there was little change to Wheeler’s stance from February. “We had […]

Read more

Take Care When Making Offers

By Awesome Office Team at WMB In blog No comments

In a hot property market it’s easy to get carried away in the moment and be in a hurry to make cash unconditional offers. Every month or two we get asked to help people out of a tricky situation where they have placed an unconditional offer just based on a verbal “approval” from the bank. […]

Read more