Wellington Mortgage Rates and Information Online from competing Lenders

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HK shares open up 2 pct; financials in focus - FXStreet.com
HONG KONG, Dec 4 (Reuters) - Hong Kong shares were set to open 2 percent higher on Thursday, with investors eyeing financial stocks, after China said it planned to stabilise its stock market and ensure liquidity in the banking system. The benchmark ...

Fans grooving as music store is back in business - New Zealand Herald
Real Groovy is back in business - music vouchers included - after the store went into voluntary receivership in October. The nationwide music store had initially stopped the trading of second-hand music and the use of credit notes and music vouchers ...

Mortgage payments increase - Scoop
In 2007/08, 28 percent (135,700) of New Zealand households with a mortgage paid over $500 per week in mortgage payments, up from 18 percent (86,300) in 2006/07. The highest median weekly mortgage payments were made by those living in the Auckland ...

Median weekly mortgages up $72 from year ago - Stuff
The median weekly mortgage payment rose by $72 in the June year from the previous 12 months, new figures show. The 27.8 percent rise in median mortgages, for those making mortgage payments, took median weekly payments to $328 from $256, Statistics ...

Mortgage scammer sentenced to 30 months - Palm Beach Interactive
"Based on his lack of education and lack of sophistication, he was not the one in control," Michel's lawyer, Glenn Mitchell, told U.S. District Judge Donald Middlebrooks in federal court in West Palm Beach. A tearful Michel asked Middlebrooks for ...

New Zealand central bank cuts interest rate to 5 per cent - Summary - Earthtimes
Wellington - New Zealand's central bank slashed its benchmark interest rate on Thursday by a record 1.5 percentage points to 5 per cent and urged commercial banks to pass along the reduction to stimulate an economy in recession. Noting that he had ...

UPDATE 3-New Zealand slashes rates to 5-year low, flags more - FXStreet.com
WELLINGTON, Dec 4 (Reuters) - New Zealand's central bank slashed interest rates by a record 1.5 percentage points to restore the health of its economy hit by the global slowdown but said the country was already moving out of recession which would ...

House buying more difficult - Stuff
ANZ National this week doubled the deposit required for mortgage lending from 10 to 20 per cent, meaning Christchurch property buyers will need to save $62,000 to be able to make an offer on a $310,000 house the region's median price. Deposits are ...

Death of home buyers' dream - New Zealand Herald
Would-be homeowners in our three main centres are likely to have to wait at least 14 years to buy an average house under strict new mortgage rules. New Zealand's largest banking group ANZ-National last week announced it was doubling its minimum ...

Globe editorial board editor on why Harper should resign - Globe and Mail
Darcy Meyer from Canada writes: John, you didn't take one question from someone defending Harper or posing an arguement why he should not resign. This would contrast your view and stance, and allow you to show your justification for such a call. I ...

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Today's Mortgage Terms starting with P

  • Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
  • Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
  • Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
  • Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
  • Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
  • Principal: It is the amount of money borrowed or owed, excluding interest.
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