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Reader poll

Should you fix your mortgage now or stay floating?

Choices

Housing report: The major change in the mortgage market

Posted in News

Bernard Hickey details a housing report on the change in the gap between variable and fixed mortgage rates that changes the landscape of New Zealand's housing and property markets.

Click here to see today's video.

Here is an interactive chart of the gap between the average bank 2 year fixed mortgage rate and the variable rate.

We welcome your help to improve our coverage of this issue. Any examples or experiences to relate? Any links to other news, data or research to shed more light on this? Any insight or views on what might happen next or what should happen next? Any errors to correct?

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7 Comments

I got a cold call

I got a cold call form [I didn't catch it the first time but I thought they were a bit cheeky wanting to know all my financiall details]>>>>> "The Circle Group". I see they are a hard sell property investment group.
Also a chap from [used to be Mutual Funds> ING?] I leant them about $1000 about 30 years ago and it is a little melting block of ice- a Bonsai investment.

one question from <i>Circle Group

one question from Circle Group was "do you have an accountant"?. Is that like "is someone knowledgeable looking over your shoulder"?. They are also pushing "tax saving".

String them along CCD...ask for

String them along CCD...ask for some freebees....you might get an invite to the next National Party BBQ !

maybe AB isn't the fool

maybe AB isn't the fool we all think he is - by continually stating low OCR into the later part of 2010 he is slowly watching the hair grow back on the brazilians, so later he can more effectively grab and hold everyone by the short and curleys - and then when the rate changes, so will consumer behaviour...

perhaps he wasn't asleep at the wheel, just using cruise control along the straights saving up his might for the steep and winding curves...

Yeah I'm getting that impression

Yeah I'm getting that impression as well POP. There might be a few shrieks of pain in 2010 as the banks start yanking on rates once more people are cruising on the easy ride floating interest rate train.

I am looking to buy

I am looking to buy our own family home and with all family commitments - to go on floating rate for a biggish mortgage, I need to grow some balls.

@gingerbreadman: Not really. Just make

@gingerbreadman: Not really. Just make sure you can afford the repayments at 12% and preferably 15% (even if at that point you are staying home and eating cheaply).

That has always been the way to do it - nothing has changed.

Alan.