Rants, Raves, Reviews


Home Owners Slapped Again

By Gary R, in , posted: 26-Apr-2007 09:55

The Reserve Bank have yet again raised the OCR. The OCR is now 7.75%. The current 2 year fixed rate for ANZ and ASB is 8.90%. Of course we will see the follow on affect of exporters being squeezed even further with higher exchange and interest rates.

It is ironic that the Reserve Bank tries to put the breaks on the economy by punishing home owners while the current government spending continues unabated. When Labour entered power in 1999 the OCR was 4.5%.

From my perspective I don't care because I am fixed at 7.3% for 5 years with 3.5 years still to go. By the time I need to renew my mortgage Labour will be gone and so will all this silliness.


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Permalink to Home Owners Slapped Again | Add a comment (2 comments) | Main Index




Comment by sbiddle, on 26-Apr-2007 10:17

At least the good news for importers is that our $ will probably increase by at least US1c by the end of the day. That makes the new Plasma even more affordable for the home owner who's already on a fixed rate mortgage..


Comment by juha, on 26-Apr-2007 14:25

76 or 77¢?


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Gary R
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New Zealand


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