OCR cut good news for mortgage holders.

Publish Date
Wed, 7 Aug 2019, 6:31PM
Reserve Bank cuts OCR to record lows (Photo: NZ Herald)

OCR cut good news for mortgage holders.

Publish Date
Wed, 7 Aug 2019, 6:31PM

A financial advisor says the OCR cut is good news for mortgage holders, bad news for those with term deposits

 

The Reserve Bank was widely expected to cut the OCR today from 1.5% to a record low of 1.25%. 

 

In fact they made a 0.5% cut.

 

Tim Fairbrother, owner of Rival Wealth, told Simon and Phil a lot of people will be surprised by the move.

 

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