Mortgage advice, please! Do we lock or gamble??

MNSL answered one month ago …

Please be carful about interest rate, currency and commodities. These can become mass of destruction in the future.

Everybody almost all countries are trying to control economy by making use of interest rate instead of using macro economic policies. Policy makers should take action to stop culture of buying and selling houses as commodity to prevent worst bubble in the future.

Due to ever changing banking policy on interest rate some homeowners have to pay more than others unreasonably. Interest rate has become gamble now. Interest rate must be same for everybody..

I think in some countries long-term mortgage interest rate will go up during next 60 days. I don’t know much about interest rated policy in the USA.

We are just started to recover from global crisis and now housing market in Asia pacific region are trying to break the record they made in end of 2007 and in 2008.They think business cycle is over and trying to speculate on houses far greater than before. Even Taxi drivers are talking about houses.

First homebuyers must be very careful during next 24 months in countries such as Australia, New Zealand and some Asia pacific countries. They are lest affordable countries in the world. We must follow the intelligent real estate leaders, not speculators, and some real estate agents.

It is better to get variable interest rate in some countries.

Pl see following link:

.http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10 599783
Martin Hawes

I agree New Zealand would be better off if we speculated less on housing and invested more in other things. There are better investments than rental property, and we will never get rich as a country by selling houses to each other.