New Zealand homeowners are being told to fix their interest rates now if they want to avoid a looming increase.
The United States Federal Reserve has increased its interest rate by a quarter of a percentage point, a move that happened earlier than some commentators had expected.
Chair Janet Yellen said it was too soon to say what effect Donald Trump's plans to cut taxes and increase spending might have on the direction of the US rate รข€“ but at the moment the Federal Reserve is expecting a total of three rate increases this year.
International interest rates drive New Zealand's long-term rates, which have already started to move up. The median five-year rate available in the market is 5.87 per cent. One-year rates are still available below 5 per cent.
from
http://www.stuff.co.nz/business/90493598/Record-low-interest-rates-are-a-thing-of-the-past-economists-say
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