I hope you’re enjoying the Commonwealth Games and finding a little time to cheer on the Kiwis. While plenty is happening on the sporting front, there’s also a fair bit going on in the mortgage world, so here’s a quick roundup of what’s been making headlines.

Inflation, Trump and Keeping a Cool Head

Just when we thought things were settling down, inflation is back in the headlines and, once again, Donald Trump seems to be dominating them too. The world has a funny way of keeping us on our toes!

The recent rise in inflation has largely been driven by higher oil prices following the Iran conflict. The good news is that many economists expect those pressures to ease over the coming months, which should help bring inflation back under control.

There’s plenty of talk that mortgage rates could creep back into the 5% range. Maybe they will, maybe they won’t. The important thing to remember is this: don’t believe everything you read in the media.

When the OCR changes, floating mortgage rates usually move straight away. Fixed rates are different. They are driven by wholesale funding markets and future expectations, so they don’t always move with the OCR. In fact, fixed rates have remained remarkably stable over the past few months.

New Sport – Moving Banks

It seems the newest sport for Kiwis is moving banks.

If you’ve been with the same bank for more than three years and have a mortgage of $400,000 or more, it could be well worth reviewing your options. Cashback offers remain attractive, and the right loan structure could save you thousands over the life of your mortgage.

We’ll compare the banks, negotiate on your behalf, and make sure you’re getting the right deal, not just the first deal.

Fixing Your Mortgage

Not sure whether to fix for six months, one year or longer?

That’s where we come in.

Every situation is different, and we’re here to help you work through the options before you make a decision. Whether it’s a quick email, a text or a phone call, we’re only too happy to help.

Get in touch before your mortgage rolls over. A quick conversation today could save you money tomorrow.

From the team at Mike Whittaker Mortgages.

General Advice Warning: The information contained on our website is general in nature and does not consider your personal situation.