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Originally Posted by macduffy
Probably the US Fed. But the real issue isn't who will be first, it's more a matter of pretty much universal acceptance that the next move will be up.
For anyone who has not worked out the connection.. when the Fed rates rise then so too does the Mortgage rates in NZ...[and rents]
"Of course, when US interest rates go up our interest rates go up as well, so that's why our five year mortgage rates are rising, even though the Reserve Bank has its official cash rate on hold," Speizer said."
http://www.nzherald.co.nz/business/n...ectid=11766939
We are all in for a world of pain
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