"Thanks for getting the application processed and I am impressed with how fast its all gone through.  With your guidance and instructions I can now move on with the plans to do up the bathroom and laundry.  For me, its probably a once in a life-time opportunity to do it so its with great gratitude I thank you for helping me through the process. You have helped me reach the dream of owning my first home and one Ive grown to love.  And now on top, also being able to renovate where repairs are not just a dream but are necessary.  I had only enquired about a "top-up" thinking I was just being hopeful and it wouldn't go through, but you made it possible.  It was a huge surprise when it came back almost the very next day all confirmed. I don't think many people truly understand, let alone appreciate the real value of a mortgage broker!!  Now I do, and Ive got a good one well worth recommending.  Much appreciated."
Julie Holmes, Auckland

Many commentators, earlier this year, were saying that interest rates may go up 4 to 5 times in 2010. One bank economist was predicting that interest rates may have starting rising back in March. This did not happen and so far this year we have had only one interest rate increase. My view is that interest rates may not go up that much more this year. New Zealand’s economic recovery, which is happening slowly, can best be described as fragile. We have had the European debt crisis which took many by surprise and caused the world share markets to dip by 15%. They have since recovered a little bit in recent weeks. There is some talk that the Chinese economy may slow down as well. Given this and the fact that governments around the world still want to support their economies, interest rates are set to remain relatively low for sometime yet.  The Reserve Bank will likely lift the OCR this Thursday from 2.75% to 3.00% and this is likely to lead to a response to increase floating and 6 months rates by up to 0.25%.