Page 2 - Mark Riggall News Today

Expert warns massive interest rate hike could make housing market fall over Newshub 4 hrs ago © Video - The AM Show; Image - Getty Images Mark Riggall on The AM Show. A financial expert doubts the Reserve Bank is going to raise interest rates too much despite growing inflation, because itll destroy the housing market. Interest rates are at record lows, driving up house prices and making it cheap to borrow. They were already relatively low, encouraging spending in the post-global financial ...

Riggall said with prices so high, many recent buyers are stretched to their limits already. "If interest rates rise, if youre borrowing against the median home in New Zealand and rates rise 1 percent, that could cost you more than $4000 a year in extra repayments. For some people its going to be difficult - bear in mind that other costs are going up as well." Based on long-term fixed mortgage rates, Riggall said the banks appear to be expecting a rise of about 0.4 percent in the next 12 months....

Why the New Zealand sharemarket is heading south 19 Feb, 2021 04:00 PM 6 minutes to read The New Zealand sharemarket is down 7 per cent this year. Photo Greg Bowker After a stellar performance in 2020, the New Zealand sharemarket has underperformed other markets so far this year by quite some margin. The local markets S&P/NZX 50 index finished the year at 13,092 – up 14 per cent on the substantial lift in the previous year. But since early January the index has dropped by 7 ...