With the announcement that the OCR has dropped to 7.5% Kiwi Bank has already dropped fixed term mortgage interest rates. West Pac has also dropped interest rates and it is expected that other banks will follow in due course. This will assist home buyers and assist many people in the community. The real estate industry should also make some gains and the present decline should be relieved. This should also have flow on effects for the New Zealand economy.
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OCR drops to 7.5%
@ 2008-09-11 – 12:37:02
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