Mortgage brokers unfazed by OCR hike
Mortgage broker Mike Pero says demand for houses may slow down a little as interest rates rise but he is not fazed
Thursday, April 29th 2004, 8:21AM
by The Landlord
Mortgage brokers are predicting any fallout from today's rise of the official cash rate will be insignificant.
The Reserve Bank has increased the OCR by a quarter of a percent taking it to 5.5 percent, the highest in the developed world.
Broker Mike Pero says demand for houses may slow down a little as interest rates rise.
He says people still want to buy, and are prepared to take the good with the bad.
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