News - 29 October 2007

The Alpha Update

Professionalism and Knowledge

Many readers may not truly appreciate the effort and skill that comes with every mortgage or piece of advice from Alpha Financial Solutions Ltd. Here is some of the work behind the scenes that is done on a regular basis to bring you the best quality service we can:

• Membership of the NZ Mortgage Brokers Association. The NZMBA requires a code of conduct, ethical dealing, and ongoing training as part of it's membership criteria
• Professional indemnity insurance for $1 million
• Ongoing training courses attended at least quarterly
• Attendance at a wide variety of property investment and property trading courses for market knowledge and best practice
• Development and maintenance of a wide range of contacts in the real estate industry (both residential and commercial), a wide range of lenders (banks, non-banks, finance companies, private lenders and more), and property experts of all kinds
• Development of contacts across a broad range of other service industries related to property and property owners, from lawyers and valuers to home stagers, bathroom designers and kitchen manufacturers

All of these contacts and experience comes to you any and every time you work with Alpha Financial Solutions Ltd.

If you want to deal with a true professional when you need finance for property or business purposes , give Stuart a call on 021 676 747 or 0800 676 747. We Can Help!

Food for Thought

The only certain means of success is to render more and better service than is expected of you, no matter what your task may be - Og Mandino

What's New??

• Win a House! - Spring campaign from ASB Bank
• The sun is finally out!

For more information about any of these opportunities, email Stuart@alphagroup.co.nz

Interest Rate and Currency Comments

Interest rates have been pretty static over the past few weeks, with the Reserve Bank's "no change" to the Official Cash Rate being widely predicted. The country is still caught between high employment, rising oil prices and increasing rural payouts on one side, and a gradual slowdown in the housing market and high interest rates on the other side. There continues to be little room for short term interest rate reductions for some time. However, a weak US economy may see longer term rates declining slightly in the next few weeks.

Declines in the US dollar have seen our dollar rise against the US. However, it has been relatively stable against our other trading partners, except for the Aussie. Rises in their domestic interest rates have seen the cross rate fall by around 2 cents in the past month.

(See below for latest interest and exchange rates).

The Finance Markets

As of 8am on Monday 29 October 2007 the following Interest Rates applied:
Official cash rate 8.25% (stable)
90 day bill rate 8.64% (down slightly)
5 year bond rate 6.81% (up)
NZ/US Dollar 0.7619 (down from 0.7691)

Current Range of Interest Rates for home and investment mortgages as at 29 October 2007.

Floating:
9.7 to 10.80% (stable)

Fixed For:
1 Year - 9.25% to 10.22% (stable)
2 Year - 8.99% to 9.85% (stable)
3 Year - 8.70% to 10.05% (stable)
4 Year - 8.75% to 9.72% (stable)
5 Year - 8.70% to 9.68% (stable)

For a complete table of interest and exchange rates, click here.

The information stated herein was correct at the time of release, but is subject to changes without notice.