Talk to us now: NZ Mortgages

The market is certainly buzzing with activity. With the OCR dropping to 4.75%, interest rates are finally heading in the right direction at a great pace.

Another OCR announcement at the end of November has the potential to see the rate go to 4.5% for the start of 2025. Our crystal ball hopefully sees 4.99% and 4.95% rates prior to Christmas.

The NZ Mortgages team has also seen a jump in the property investment space over the past few weeks, as the interest rates start to come down, purchasing an investment property is becoming a great option to help you on your journey towards financial freedom. We were fortunate to spend a weekend at Te Pae at the New Zealand Property Investors Federation’s annual conference, where we met plenty of people who believe that now is a great time to get into the investment space. If you’re thinking about investment or unsure if you have enough equity in your property, please don’t hesitate to get in touch with our team.

If you are refixing or know your loan is coming up for renewal soon, make sure you are getting the best deal in the market. If your rate is up in the next couple of weeks, there is a good incentive to float your mortgage until after the next OCR announcement on 27 November, but please talk to an adviser for advice on your personal situation. Try and fix your loan as late as possible, as the OCR drop means banks are dropping their rates to try beat out their competitors – albeit not as fast as some would like. It does mean there is plenty of money to be saved by waiting until as late as possible to fix your loan. We also highly recommend you fix for short-term – as rates are predicted to continue dropping, and a better deal is likely to be available in 6 to 12 months time.

For more personalised advice, speak to your adviser or any member of our team at www.nzmortgages.co.nz or call us at 0800 100 300.