Home Loan Rate Report: Mortgage rates keep moving higher

  • Despite the August COVID-19 outbreak causing the Reserve Bank of New Zealand (RBNZ)  to keep the Official Cash rate at a record low 0.25%, mortgage interest rates keep rising.
  • Mortgage rates have lifted in September, and more increases are expected over the year ahead.
  • The ASB Economics team thinks every RBNZ meeting should be considered "live" for Official Cash Rate increases, although the latest COVID-19 outbreak is a reminder that the situation is fluid.

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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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