Following the Reserve Bank of New Zealand (RBNZ) cut the Official Cash Rate (OCR) last month, we have seen a slow, but steady, decline in interest rates. Last week saw SBS drop its six-month rate to 5.99 percent, the first of the main banks to reduce their short-term rates to under six percent. Across the […]
Insights Update: What’s Happening to Interest Rates? The consensus among market analysts and economists is that the Reserve Bank of New Zealand Official Cash Rate (OCR) will drop no later than November of this year, with a significant chance of an earlier reduction. Current market pricing indicates a 100% chance of an OCR cut by […]
Case study: What to do when the bank says ‘No’… The situation… Bank declines couple’s request to continue paying interest-only on a portion of their lending, as they had reached the maximum interest-only period. With the couple facing a significant rise in mortgage repayments after interest rate hikes over the previous 5-years, Threefold helps the […]
Understanding the Changes to Debt to Income Ratios A debt to income (DTI) ratio is a metric used by lenders to assess a borrower’s ability to manage monthly debt payments and repay a mortgage. It is commonly used in many overseas markets, but it a new metric in New Zealand. The DTI is calculated by […]
Refinancing Considerations “If you fail to plan, you are planning to fail!” Picture this: you’re lounging on your deck soaking in those last few rays of autumnal sunshine, sipping a freshly brewed coffee and secure in the knowing that your mortgage is working for you, not against you. However, with many Kiwi’s mortgages coming up […]