Interest rates uncertainty puts confused Kiwis in a fix

Monday 1 November 2004

Fixing your home loan for two years may not be the best option, reports Rob Stock.

By The Landlord

Confused about interest rates and what to do about your mortgage? You are not alone.

All over New Zealand, Kiwis loaded up to the hilt with debt are trying to figure out how to weather rising home loan rates - and many are struggling.

According to research by SuperBank, 22 per cent of us are caught in two minds.

Around 15 per cent of people think rates will drop within a year but are still considering fixing their mortgage now just in case rates rise more than expected.

A further 7 per cent expect rates to keep rising but are still most concerned about getting locked into a high rate if rates fall.

With a third of all mortgage debt in fixed-term loans ending in the next six months, according to Cannex, the question is taxing an awful lot of people.

Read More - Opens in a new window
Commenting is closed

Property News

Major industrial development powers on

It’s full steam ahead for the Stevenson Group’s $800 million, 361-hectare industrial and residential development in South Auckland – despite the uncertainties of the post-Covid-19 era.

House Prices

House price drops are short-lived - Alexander

Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.


Resilience needed in face of change

The Reserve Bank says the commercial property sector is vulnerable to the Covid-19 crisis. But PMG Funds' chief executive believes that while there’ll be short-term pain, the biggest long-term impact will be structural change.

Site by PHP Developer