As we drift back to a new year full of promise, we are sometimes bombarded by various statements from economic commentators.
Sometimes these statements can be somewhat contradictory and might need to be taken with a "grain of salt" For example we have heard that the Reserve Bank Governor is considering requiring our banks to increase the funds they hold in reserve.
This last statement created a flurry of commentary about the possibility that our interest rates would increase significantly. One commentator hinted that the Reserve Bank Governor might know something about the future that he wasn't able to share!
At about the same time a major bank made a prediction that the next movement in interest rates signaled by the Reserve Bank would be down rather than the gradual rise predicted for later in 2019.
So, what is the reality and so for many - the opportunity?
Well at Thompson McNeill our experience has been that interest rates are as competitive as ever. It is possible to fix a mortgage for 12 months at under 4.00%pa but also to fix for 2 years for a little over 4.00%pa.
Real estate commentators have indicated that the number of sales in December 2018 were their lowest for some years.
Despite the fact that it is difficult for many to get into first homes - with historically low interest rates and a real estate market probably more slanted towards buyers than sellers, it might be worth a look at just how affordable property purchase is for you!
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