Borrowers will be excited to see that the floating, six-month and one-year rate medians for the banks are all below 6% as a result of the Reserve Bank cutting the official cash rate (OCR) to 2.50% yesterday.
The OCR is now back to the record lows which followed the global financial crisis and as a result a large boost of confidence has been delivered to the economy.
We've teamed up with award winning mortgage experts, Squirrel.
With over 1,425 five star reviews on Shopper Approved, Squirrel has helped thousands of Kiwis just like you secure the best possible rate when refixing or refinancing. Squirrel often beats the advertised rates so it's worth getting them to review your mortgage.
New Zealand
The service I got from Squirrel was extremely efficient. They dealt with my loan so easily and achieved a result greater than what I was expecting.
New Zealand
Highly recommend Squirrel to sort out a mortgage with the banks takes the hassle out of going to separate banks with so much information they do the hard yards for you - Baz was a superstar and helped me all the way to my new home.