Bernard Hickey delivers a housing report in association with ASB on how fixed mortgage rates are rising because of renewed talk the Reserve Bank of New Zealand will have to raise the Official Cash Rate earlier and faster than expected.
Click here to see the interactive chart http://www.interest.co.nz/charts/gallery7-90.asp
Duration : 0:2:23
“governemnt”should …
“governemnt”should have been “governments”. NZ didn’t do much for the stimulus….unless not cutting spending is regarded as stimulus.
Looks more and more …
Looks more and more like the “stimulus” – at best – delayed the inevitable, perhaps with the added downside of leaving government even deeper in debt (having transferred taxpayers’ money to banks) and taxpayers facing either reduced services or higher taxes…..and borrowers everywhere facing a return to the higher rates that choked so many off in the first place. Forecasts of a depression in 2011 may prove to be accurate.