What's next?
OCR kept at 5.50%, two in a row with no change in the OCR.
Current monetary policy working as expected to clampdown the domestic spending therefore tracking well to counter the inflation.
Members of the MPC has mentioned:
"The risks around the lagged effect of previous monetary tightening on households and businesses. The average mortgage rate on outstanding loans is expected to rise from around 5% to near 6% by early 2024, and debt servicing costs as a share of income are still increasing."
Reserve bank has no intention to move on OCR rates, as they are working towards bringing the consumer price inflation between 1% - 3% in the second half of 2024.
Some of the economists are still predicting another rise later this year on the OCR, which could be the max.
Interesting times ahead, with election and CPI update in the next three months, which will give some more clarity.
As reserve bank does their OCR review, it is worthwhile reviewing your mortgage, spending at least 5 - 10 minutes, can potentially save you some interest cost.
If you are unsure, you can engage us, we love to explore options and create an opportunity to grow your wealth.
👉 info@skfg.co.nz
👉0210749825
Cash for your wrecked and water damaged car!
Hi neighbours,
Do you have a vehicle that is taking up space and becoming an eyesore? At AAA Auto Parts we dismantle and wreck cars. We will pay top cash whether your car is dead or alive!
* $300 - $3000 for small cars
* $700 - $10,000 for 4x4 utes, vans, 4WD, trucks and buses
* Same day removal
* Free quotes over the phone
We will beat any prices in the market by 10%.
Support your local business.
Give us a call on ** 0800 50 00 01 ** and we will be happy to have a chat.
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Rentals
Hi
I went to view a rental that my family and i were excited to see on the weekend. Oh lordy! what a disappointment. When will they stop advertising properties that don't live up to the picture that they are portraying and show it in its real time state, warts and all??? I thought that there was a consumers protection act around false advertising??? I might be wrong. If this continues then the tenant should be able to ask for reduction in rent. Why? Because they in some cases are charged with cleaning the place up before they can even place their most treasured belongings in the home. The owners should be ashamed. I know no one will turn up if they showed warts and all. Well I think it's time for change. People are desperate, but come on, if you are getting good money from your tenants you have to lead by example. Those owners who make an effort deserve a medal. They aren't trying to hide anything. Their rent is also cheaper than the ones that don't make an effort. There are people out there who are only too happy to go and clean your property for you. Just make someones day and present your properties as if you are going to sell it. ( Hey, actually you are trying to do that in a way just to a tenant instead to rent).
What do you think renters? It's time for the korero.
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