Standing in the middle of the road is dangerous.
Five year fixed rate 9%
Standing in the middle of the road is very dangerous as you could get knocked down by traffic from both sides.
QV figures show property values higher than one year ago - banks start increasing interest rates - housing is set to become less affordable.
Should we stand firm and brace for the impact?
As I am writing I notice two email messages arrive the first from ASB and the second from Westpac both advising they have increased their mortgage interest rates. Looking at the five-year rate 8.75% it is now believable when I say I can see 9% on the cards by March.
Many thought I was wrong in that predication six months ago and I wish they had been right.
This is what Westpac had to say this morning and I tend to go along with their thinking.............
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