A percentage sign, in front of an urban scene. Photo: Unsplash/ Declan Sun
Falling interest rates will deliver $2.2 billion into the pockets of mortgage holders in the next six months to a year, according to the BNZ's Chief Economist.
The Reserve Bank will announce its next official cash rate decision later this month with most commentators expecting another quarter of a percent cut from 3.5 per cent. Mike Jones says the majority of the positive cash flow is yet to flow through to borrowers, and a good chunk of it may go on paying the bills.
Meanwhile almost one in 10 residential property sales are happening for a price less than the seller paid, according to the latest Pain and Gain report from Cotality, formerly Corelogic, which shows the gains and losses being made by sellers around the country.How much more can mortgage holders expect to see flowing through to them and when?
As rates come down, when is it time to fix, and what is the outlook for the housing market? Mike Jones joins Kathryn.
