Mortgagee sales are at a national record high after dropping slightly August.
And the market shows no signs of stopping with banks quietly moving to raise their short-term fixed mortgage rates.
Latest figures show 343 mortgagee sales were recorded in September 2009.
Overall this doesn’t seem like an unusually high figure. That’s 102 more than the previous month.
But its when you consider the numbers for the sime time 2 years ago it gets really scary..
In September 2007 when the property boom was peaking, there were only 16 mortgagee sales for the whole of NZ.
What happened!?
Click here to read the Sunday Star Times article.
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