Home loan affordability best in 4 years

The New Zealand Home Loan Affordability measure from interest.co.nz was largely unchanged in February as a small rise in the median house price offset the benefits of another fall in mortgage rates. The pause in the improving trend for home loan affordability is not expected to last for long given predictions that house prices and interest rates will fall further later this year. Fresh tax cuts later in 2009 will also increase take-home pay and improve affordability.

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