Banks cut mortgage interest rates after OCR drops to an all time low


On Wednesday the Reserve Bank was lead to cut the official cash rate to an all time low, as a result of the weakening job market and tepid inflation. Following this drop, banks were quick to lower their mortgage and deposit rates. So what does this mean for the New Zealand housing market? It is believed that there will be an upturn in the second half of 2019 which will hopefully mean more rentals!

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