Many NZ homeowners would seek longer loan terms, cut energy spend on higher rates: BNZ

Wed, 12 Apr 2017

By Rebecca Howard April 12 (BusinessDesk) - Almost three-quarters of New Zealand homeowners are expecting their mortgage rates to rise this year and while many are fairly sanguine about a moderate increase, if it goes too high a fifth would push out the term of their loan and a third would cut back spending on utilities, Bank of New Zealand research shows. Homeowners have enjoyed historically low mortgage payments with New Zealand's official cash rate at a record low 1.75 percent. However, while the central bank has indicated there won't...

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