News
Rates change all the time. Keep up to date with the latest activity so you can manage your mortgage and pay-it-off faster.
Interest rate rises to continue this year
Welcome to my first fortnightly column on mortgage rate levels and prospects in New Zealand. At the start of 2022 we can see that all fixed interest rates have in fact risen quite firmly.
2022 will bring more mortgage rate increases
We started 2021 with the average one year fixed mortgage rate at 2.49%, the three year rate at 2.65%, and the five year rate 2.99%.
Guest post: Residential home loans: fix or float?
In this article, John Bolton, CEO of Squirrel Mortgages looks at how to pick the right fixed home loan rate term in a rising interest rate environment.
Monetary policy tightening already in place
Over nearly 3 years the OCR increased from 5.0% to 7.25%. But the 3-year fixed mortgage rate barely increased. Contrast that with the current situation of this rate rising 1.8% the past six months while the Reserve Bank’s cash rate has gone up only 0.5%.
