LOCK your mortgage interest rate
Mortgage interest rates continue to move upwards. The latest factor is across the globe in New Zealand. New Zealand’s Central Bank (like our Fed) hiked their interest rates this morning…so how does something so far away from the USA impact our mortgage rates?
Remember, mortgage interest rates are based on mortgage backed securities: bonds. These bonds are traded just like how stocks are bought and sold. So if an investor can get a better return in New Zealand vs. here…then that’s where the money may go. Out of bonds and into kiwis thus pushing up mortgage interest rates. In addition, other countries, such as Australia may follow suit increasing competition for international dollars even higher. Read More
