Credit Conditions Ease: What It Means for You
Earlier this month, we shared updates on legal and regulatory changes in the property and finance industry, including DTI, LVR, CCCFA, interest deductibility, and Brightline rules. These changes are now being reflected in bank credit criteria and lending policies.
Additionally, we've seen a significant shift in interest rates.
Wholesale interest rates, which influence retail mortgage rates, have dropped by 1%, bringing the 2yr swap rate back to levels last seen in September 2022. Banks have reduced their mortgage rates, and there may be more cuts on the horizon. One bank has lowered its income testing rate by 0.25%, potentially leading others to follow suit.
So, what does this mean for borrowers? Loan affordability has improved, and the barriers to borrowing have decreased. ✅
And for the property market? Traditionally, falling interest rates and easing credit conditions stimulate more market activity. However, only time will tell how this trend will unfold. ✅
If you're considering your options, get in touch with Advicehq to understand your current position and explore future opportunities.
#advicehq #independentfinancialadvice #mortgagerates #nzpropertyinvestor
Poll: Do you think NZ should ban social media for youth?
The Australian Prime Minister has expressed plans to ban social media use for children.
This would make it illegal for under 16-year-olds to have accounts on platforms including TikTok, Instagram, Facebook and X.
Social media platforms would be tasked with ensuring children have no access (under-age children and their parents wouldn’t be penalised for breaching the age limit)
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Do you think NZ should follow suit? Vote in our poll and share your thoughts below.
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85.6% Yes
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13.3% No
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1.1% Other - I'll share below
What's your favourite recipe for courgettes?
Kia ora neighbours. If you've got a family recipe for courgettes, we'd love to see it and maybe publish it in our magazine. Send your recipe to mailbox@nzgardener.co.nz, and if we use it in the mag, you will receive a free copy of our January 2025 issue.
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