The turning point has come.
Borrowers should start hopping out of a floating rate and into short-term fixed mortgage rates according to BNZ economist Tony Alexander.
Fourteen lenders increased their short-term rates over the last 10 days and lenders are expected to keep increasing short-term rates as the Official Cash Rate is expected to rise on June 10 after being historically low at 2.5% since last year.
There are no mortgage rate changes to advise of today.
We've teamed up with award winning mortgage experts, Squirrel.
With over 1,425 five star reviews on Shopper Approved, Squirrel has helped thousands of Kiwis just like you secure the best possible rate when refixing or refinancing. Squirrel often beats the advertised rates so it's worth getting them to review your mortgage.
New Zealand
The service I got from Squirrel was extremely efficient. They dealt with my loan so easily and achieved a result greater than what I was expecting.
New Zealand
Highly recommend Squirrel to sort out a mortgage with the banks takes the hassle out of going to separate banks with so much information they do the hard yards for you - Baz was a superstar and helped me all the way to my new home.