Best rates since WWII!
Back when rubber shortages meant dairy farmers had to prove they had at least 12 cows to qualify for gumboots and rationing saw New Zealanders shrinking their meals, mortgage rates were low. Pretty much, where they are today - seventy years on. All because a mortgage rate war has erupted among the major banks.
ANZ fired first, announcing it was dropping its rate to 3.95% fixed for one year - a number not seen since world War II. Fuelled by FOMO, Westpac and ASB followed into battle with similar rates. And now BNZ is offering 3.99% for a two-year fixed-term. If rates like these have you all ears, remember your client will need a 20% deposit to take advantage of them.
And how can an adviser help? They can work out how much it will cost to break your clients fixed term and if one of these hot rates available is right for them.
This won't last so, if your client is coming off a fixed-term mortgage in the next two months and want a great rate, get in touch.