Tell your story: Coping with high mortgage interest rates

Friday, 19 April 2024

Reserve Bank governor Adrian Orr announces that the official cash rate will remain at 5.5%, but there was never a chance of a drop.

The latest inflation figures could be bad news for anyone wanting a cut to interest rates.

Stats NZ figures for the March quarter show prices lifted 4% in the year - rising 0.6%, a touch higher than the 0.4% the Reserve Bank had forecast.

How are higher mortgage interest rates affecting you?

ASB economists believe the inflation data will see the Reserve Bank hold off on cuts to the Official Cash Rate (OCR) until next year.

How are mortgage costs affecting your household? Have you had to cut back on spending to cover mortgage repayments or are you looking to refinance?

If you are looking to buy a house, are you holding off?

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