Mortgage News October 21, 2018
OCR Drops in Surprise Move

The Reserve Bank of New Zealand (RBNZ) surprised the market in early March with a 25 basis point cut to the official cash rate (OCR). Interest rates now sit at a record low of 2.25 percent, with further drops likely if inflation fails to settle near the middle of its target range of 1-3 percent. The move caught almost everyone by surprise, with forecasts largely expecting the bank to keep the rate steady at 2.5 percent. While the major banks have not passed on the reduction in full and are unlikely to do so, a suggestion has been made to force banks to pass on future OCR cuts.


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Housing Supply Still a Problem

Despite renewed efforts to solve Auckland's housing supply problem, there's still a lot of work to do. In a recent speech to the Auckland Chamber of Commerce, Finance Minister Bill English spoke of many challenges that need to be addressed to meet the needs of Auckland residents. With the city expected to grow by more than 700,000 people over the next 30 years, careful planning and community consultation is needed now more than ever before.  


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The Indoor Garden Trend

While everyone appreciates a nice garden, not everyone has the outdoor space needed to grow vegetables or ornamental plants. Indoor gardens have become a big trend over the last few years, with wall gardens, terrariums, and indoor herb gardens transforming lifeless indoor spaces into beautiful green areas. Whether you're an ornamental cultivator, a gourmet home chef, or simply someone who's mad for veggies, there's a lot you can do in even the tightest of indoor spaces.


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Common Food Myths

When it comes to food and nutritional advice, it's hard to separate fact from fiction. While there's more information out there than ever before, much of it is contradictory, confused, or out of date. Let's take a look at four of the most common food myths that proliferate on the Internet in an attempt to make sense of the chaos.



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The Arctic Doomsday Vault

The Svalbard Global Seed Vault, also known as the Doomsday Vault, is located in the Arctic Archipelago between mainland Norway and the North Pole. Hidden 500 feet inside a mountain in a remote island location, the Doomsday Vault is designed to function as a seed bank in the case of climate change, nuclear war, or widespread natural disaster. Generally kept secret, the vault has been in the news lately after the first withdrawal was made due to the Syrian civil war.


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> In This Issue...
1. OCR Drops in Surprise Move
2. Housing Supply Still a Problem
3. The Indoor Garden Trend
4. Common Food Myths
5. The Arctic Doomsday Vault

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