Joyce cautions potential home buyers to brace for higher interest rates

Wed, 08 Feb 2017

By Paul McBeth Feb. 8 (BusinessDesk) - Finance Minister Steven Joyce has cautioned potential property buyers from getting too comfortable with New Zealand's historically low interest rates, saying they should consider whether any mortgage debt taken on is still affordable in three or four years if rates rise. Speaking to the parliament's finance and expenditure committee, Joyce said New Zealand's housing supply shortage was shrinking given the country's "biggest ever building boom" and there were signs Auckland's property market was cool...

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