Recently there has been a large increase in new and existing clients asking for assistance with their home loans and mortgages. With this in mind and to help further assist to our clients outside of Christchurch, Advanced Mortgage Solutions is pleased to announce the introduction of a toll free number.
0508 HOME LOAN or 0508 4663 5626*
If a toll
call is required to talk to us please feel free to use this new number
at anytime. We are currently updating our logo's and email footers to
incorporate the new number so please look out for them.
Interest Rate Outlook
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Yes we did get a 0.25% increase in the Official Cash Rate late in July but that was well and truly expected, guess what we will get another two to three similar moves before the end of the year, but remember the world economy was in such 'free fall' eighteen months ago that drastic measures were required and taken to protect us all from a depression like environment whereby rates were slashed to historic lows.
As such the next two or three increases do little other than restore us to a more 'normal' interest rate environment which is required to ensure that we don't return to a debt fueled recovery. Amazingly, we have yet to see the bank's react with an increase to their variable rates by passing on the 0.25% increase but as sure as the sun follows the moon you can expect that to land within the week.
This economic recovery is not about the housing market jumping back out of it's skin, it is being driven by slow, sustainable manufacturing growth, increased productivity and a reduction in household debt.
We continue to be restricted by a lack of available credit with banks remaining extremely conservative, in a bizarre sort of way this actually drives our business as more consumers who historically thought their bank was their friend have found out they are not so friendly and won't lend them the money they want to buy their new house, as such they find themselves at our door with far more options and our clients are constantly amazed that we can turn a bank 'no' into another bank 'yes'.
So, we get you the money, then the question becomes should I fix my interest rate or float? This is certainly a tough question in the current environment but with the difference between the floating rate and the 2 year fixed rate now looking at around 1% we do see more value n the mid- term rates of 2 year and suggest that this is a pretty safe place form many of our clients which may look pretty attractive in one year's time.
If you have a home loan coming up for renewal or just want some help with a loan please contact me by email here or get my contact details from here.
Kind regards
Scott Miller
P.s Find a number of short video's to help with better understanding bank policies, what interest rates are doing and a brief look into some of the different strategies available when looking to invest. Please click on the link below to have a look.
* Please note that at this time this service is only available from landlines.
This publication has been provided for general information only. Although every effort has been made to ensure this publication is accurate the contents should not be relied upon or used as a basis for entering into any products described in this publication.
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