It's a great time to borrow

Mortgage rates have continued to fall following last week’s 1.5% cut in the official cash rate (OCR) to 3.5%.

The view among market watchers is that it may be too soon to lock into longer term rates just yet. The feeling is that the OCR is likely to fall further bringing more cuts in floating and short term rates. But borrowers need to watch the market closely from now on.

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