Cooking The Books

Each week the NZ Herald and Newstalk ZB's Cooking The Books podcast tackles a different money problem. Today, it's what's happening in the home loans market, and how to take advantage of that. Hosted by Frances Cook.If you manage to buy your own home, you may feel like you've already won the battle.And yes, take the time to celebrate, because that's a huge step towards securing your future.But in reality, you're only halfway there.A mortgage is likely the biggest debt you'll ever take on in your life. It will take decades to pay off, and a lot of what you pay will be interest to the bank.That's why it's always crucial to get the best deal you can. A small change in your interest rate can mean tens of thousands in extra payments, money that you could have spent on something else instead.There's been a lot of talk lately about possible increases in interest rates. It's true that at the moment debt is pretty cheap, and there are bargains to be had.That makes me suspicious that the only way to go from here is up.