Lower interest rates to help lift economy

By WMB Admin In Uncategorized No comments

Last week the Reserve Bank announced the OCR would stay at 1.5 per cent for now but that a further reduction may be required. There continues to be a downside risk with employment and inflation while the global economic outlook remains weak. The bank expects that an increase in government spending and lower interest rates […]

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OCR cut to all-time low

By WMB Admin In Uncategorized No comments

The New Zealand dollar took a sharp dive yesterday as the Reserve Bank announced the Official Cash Rate was cut by 0.25 points to 1.5 percent, the lowest it has ever been. This is the first change in the OCR for nearly three years. It has sat at 1.75 percent since September 2016. As indicated […]

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Record first-home buyer numbers in Wellington region

By WMB Admin In Uncategorized No comments

First-home buyers made up 33% of the Wellington region’s home-buyer market between January and March, and this is the highest proportion since records began in 2005, according to the latest figures from CoreLogic. This recent article from Stuff looks at what’s driving this and where first-home buyers are purchasing, and also talks to Craig Pope […]

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How many days should we have for a finance clause?

By WMB Admin In Uncategorized No comments

This is always a difficult question. Firstly, consult your mortgage broker as to what is the best plan. Secondly, bank turn around times can dictate this and so can deposit size. Sometimes bank turn around times are slow, for example recently when it was Easter, ANZAC Day and school holidays. In this scenario conditions on […]

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Turn Key vs Build

By WMB Admin In Uncategorized No comments

Building a home can be a good option these days for various reasons. That includes the potential to get additional HomeStart subsidies from the government for first-home buyers, and property investors only needing 20% deposit rather than the usual 30% for an existing home. Generally there are two ways to build a home. Firstly, the […]

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Economic outlook shifts to downside

By WMB Admin In blog, Uncategorized No comments

The Reserve Bank is keeping the OCR “at an expansionary level” for now, but have indicated the next OCR move is likely to be down. The OCR has been kept consistently at 1.75 percent to support stable inflation, but with rising pressures the balance of risks to the economic outlook “has shifted to the downside”. […]

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Is 2019 the year for your first home?

By WMB Admin In Uncategorized No comments

Could 2019 be the year to make your first home a reality? We’re already well through February and people are starting to get back into the routine of work and day-to-day grind of paying off holiday bills! The start of January did see the Reserve Bank (RBNZ) slightly increase how many low-deposit loans banks are […]

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OCR to remain at 1.75 percent until 2020

By WMB Admin In Uncategorized No comments

The OCR will remain unchanged at 1.75 percent. The Reserve Bank continues to forecast no likely change before 2020. In the announcement today the Reserve Bank Governor Adrian Orr said they are expecting low interest rates and government spending to encourage GDP growth. The Bank intends to continue with its supportive monetary policy in order […]

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Reserve Bank to ease LVR restrictions!

By WMB Admin In Uncategorized No comments

With banks tightening credit growth and house price  inflation easing, the RBNZ announced today that the LVR (loan to value ratio) restrictions were being eased. That means banks’ allocation for owner-occupied lending, 20% can be for over 80% LVR rather than 15%. For investors the maximum LVR is now 70% rather than 65%. The change […]

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