Home Loan Rate Report: Mortgages lift following the RBNZ’s latest hike

  • Mortgage rates have been going up and up over the past year and a half, and the Reserve Bank of New Zealand (RBNZ) has been progressively hiking the Official Cash Rate (OCR) since October 2021. 
  • Mortgage rates have lifted again over the past month in the wake of the RBNZ’s latest hike.
  • Mortgages are expected to increase further in 2023 as the RBNZ keeps lifting the OCR, even in the face of slowing economic growth.

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Chris Tennent-Brown

ASB Wealth Senior Economist

Chris has worked as an economist for ASB and Commonwealth Bank of Australia in Sydney since 2005. His work has involved monitoring and forecasting trends in the New Zealand economy, with a focus on drawing implications for financial markets and investments. Chris is passionate about savings issues, and much of his current work is focussed on broadening peoples understanding of investments. Chris obtained a Bachelor of Commerce at Auckland University, majoring in Economics, and prior to joining ASB worked in the funds management industry for Bankers Trust and BT Funds Management. With over 20 years' experience in finance, Chris has also spent several years farming, and was a New Zealand representative cyclist. When not at work, Chris likes to travel, cycle, and spend time with his family and numerous pets.

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