57% of ANZ mortgage customers still to face rate shock

CEO Antonia Watson expects some customers to come under financial pressure. (Image: NZ Herald)

Fri, 28 Oct 2022

More than half ANZ Bank New Zealand’s home loan customers are still on very low fixed rates and will be facing about a doubling in interest rates when their loans roll over.Chief executive Antonia Watson described this as “one of the dark clouds”.About “57% of our home loan customers are still on fixed rates with a two or a three in front of them and they will be rolling off onto five or six”, Watson told BusinessDesk.“That’s quite a significant uplift.”The rising mortgage rates reflect both the R...

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