about 1 hour ago
Increasing numbers of mortgage holders will face higher costs over the next six to 12 months, a property data firm says.
Property data firm Cotality is warning that increasing numbers of New Zealand mortgage holders will face higher costs over the next six to 12 months - whatever happens to the official cash rate this week.
Chief property economist Kelvin Davidson said the market was at a significant turning point, after a period where rates had fallen.
"Over the past two years, many borrowers were rewarded for staying on short-term fixed rates because they could repeatedly reprice on to lower rates," he said.
