Tuesday, August 18, 2009

Interest rates down ,5% - now 10,5%

August saw another 1/2% dip in the mortgage interest rates now down to 10,5%.

This is great news for home owners or anyone with mortgage or other finance from the banks.

It also means that the affordability level for mortgage bonds will have reduced and more people will now qualify for a home loan.. this helps the property market and will help boost confidence in the market which dived to an all-time low when rates shot up over the past 18 months.

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