The situation is likely to worsen this year given New Zealand faces a glut of fixed rate mortgage expirations. More than half of all fixed rate mortgages will terminate this year, meaning many borrowers will see significant increases in their debt servicing payments as they transition from ultra cheap pandemic mortgage rates. AdvertisementIndeed, Westpac recently estimated that the ‘effective’ average mortgage rate in New Zealand would double in 2023 as these fixed rate mortgages are repriced:“For example, a borrower who fixed their mortgage at 2.7% in 2020 will now face refixing at a rate over 6%”, noted Westpac. AdvertisementThat is when the aggressive interest rate hikes from the Reserve Banks will truly be felt. Monetary conditions will continue to tighten across New Zealand, which will hammer household consumption and plunge the economy into recession.

The housing market continues to bounce along the bottom, with March sales at a 12-year low. Last month's sales were also the lowest recorded for the month of March since 2011 (see first graph below). It is now down by 16.8% from its November 2021 peak. The national median selling price was $775,000 in March, down by $150,000 from its November 2021 peak, with even bigger price declines in Auckland and Wellington. In the Wellington region the median selling price was $750,000 in March, down by $250,000 from its October 2021 peak of $1 million.

Ah, the 1990s — the decade of Tamagotchis , boy bands, and dial-up internet. Keep in mind, during the 1990s, Mario appeared everywhere, from cereal boxes to animated TV shows. Launched in 1995, it quickly gained worldwide popularity, with over 70 million units sold by January 2000. #14 In 1995, a staggering 95 million Americans watched the outcome of the high-profile court case involving former NFL player O.J. #35 Gas prices during the 1990s hovered around $1.30 a gallon, which seems like a steal compared to today’s prices.

Tonight on The Huddle, current affairs commentator Josie Pagani and Newstalk ZB's Nick Mills joined in on a discussion about the following topics:The annual North Canterbury Hunting Competition has caused a bit of a stir by creating a competition encouraging under 14's to kill feral cats. The SPCA is now looking into it- what do we think of this? John Tamihere wrote an opinion piece for Stuff claiming that Māori own New Zealand's water. Is this actually correct, or is he trying to be divisive ahead of the election? OliverShaw's latest report says New Zealand's wealthiest people are paying their fair share of taxes.

nzherald.co.nz published this video item, entitled “Supermarket vouchers help cyclone victims recover | Local Focus” – below is their description. Pak’nSave supermarkets are offering gift cards to those affected by Cyclone Gabrielle to help them restock their pantries across Hawke’s Bay, the Coromandel, Gisborne, Wairoa, Northland and Auckland. Full story: https://bit.ly/lf1558Public Interest Journalism funded through NZ On Air. Subscribe and be notified of breaking news: https://goo.gl/LP45jXCheck out our playlists: https://goo.gl/Swd249Like NZ Herald on Facebook: https://goo.gl/tUC4oqFollow NZ Herald on Instagram: https://goo.gl/oLicXeFollow NZ Herald on Twitter: https://goo.gl/Wi6mbvnzherald.co.nz YouTube Channel

Announce protest actions, general chit chat or give your opinion on issues we haven’t covered for the day. Announce protest actions, general chit chat or give your opinion on issues we haven’t covered for the day. The Editor doesn’t moderate this blog, 3 volunteers do, they are very lenient to provide you a free speech space but if it’s just deranged abuse or putting words in bloggers mouths to have a pointless argument, we don’t bother publishing. EDITORS NOTE: – By the way, here’s a list of shit that will get your comment dumped. Sexist language, homophobic language, racist language, anti-muslim hate, transphobic language, Chemtrails, 9/11 truthers, Qanon lunacy, climate deniers, anti-fluoride fanatics, anti-vaxxer lunatics, 5G conspiracy theories, the virus is a bioweapon, some weird bullshit about the UN taking over the world and ANYONE that links to fucking infowar.

Tuesday, 18 April, 2023 - 13:32Animal rights organisation SAFE is calling on competition organisers to cancel the "most feral cats hunted" category of their annual fundraiser for Rotherham School and Community Pool. Stuff reported this morning that a sponsor has pulled their support from the North Canterbury Hunting Competition in protest of the junior category. SAFE spokesperson Will Appelbe says cats will suffer, and some will inevitably be companion animals. "It’s bad enough that young people are being taught and encouraged to kill small animals," says Appelbe. "There are numerous ways to raise money for Rotherham School and Pool, and sending children off to kill cats shouldn’t be one of them."

Here's our summary of key economic events overnight that affect New Zealand, with news China seems to be emerging from its doldrums. It rose for a fourth month in April, a fresh high since September and came in better than expected. Separately, IMF data shows that China will be the top source of economic growth in the next five years, followed by India and the US. More than 20% of that growth will come from China's expansion, with more than 10% from each of the other two. And their 30 day-10yr curve is now inverted at -43 bps and inverted substantially less.

Approached for comment, a Green Party spokesperson said new revelations would be taken "extremely seriously" and the review would include a "thorough analysis of all relevant information". 'General mean girl behaviour' - sourceOne source told RNZ Kerekere had exhibited "bullying" and "general mean girl behaviour" throughout this term. "She would often make off-hand comments in front of others that Chlöe was entitled and a drama queen," the source told RNZ. Green Party musterer [whip] Jan Logie and chief of staff Robin Campbell are conducting the investigation into Kerekere's messages. "Green Party MPs are working tirelessly to deliver positive change for Aotearoa, and when information like this comes to light, we take it extremely seriously.

Winners - The Warriors, of courseIt’s all building nicely in 2023 for the now hottest sports ticket in Auckland. Warriors fans will be wary that workload could point to a bad run, but soak in the success for now. Also worth noting the Warriors are now 4-2 over Todd Payten since the former coach left for the Cowboys in 2021. Cane has been impressive to start the season after bearing the brunt of an up-and-down All Blacks season last year. Next Thursday the two clubs clash in what could ultimately decide the title, so neutral fans are the real winners.

NZ guest list revealed for King Charles III coronation, inflation still grips Kiwis and pressure in the health system is burning out medical doctors at almost twice the rate of other professions in the latest New Zealand Herald headlines. Video / NZ HeraldA man has been found dead in the water after he fell overboard off the Dunedin coast. Emergency services responded to a mayday call from fishing vessel FV Venture about a man overboard, with a rescue helicopter and local Coastguard heading to the scene about 1.30pm. Police say the man was pulled from the water and medical attention was provided, however he sadly died at the scene. The death will be referred to the Coroner.

File photo: NZ HeraldRichlister property developers Trevor Farmer and Mark Wyborn are spreading the love - giving $50,000 each to NZ First after donating to National and Act last year. Last year, both men gave money to the National Party - Farmer contributing $100,000 and Wyborn $50,000. The Act party had received double that from Farmer in the past two years, receiving $200,000. However, it appears to be the first time the pair have donated to NZ First. The judge found the payments to the NZFF were not "party donations" as defined under the Electoral Act.

nzherald.co.nz published this video item, entitled “Three killed in Geraldine campervan crash | nzherald.co.nz” – below is their description. In Geraldine, in Canterbury, three people were killed when a campervan they were travelling in hit a barrier at the intersection of Te Moana Rd at State Highway 75 before catching fire around 1am. Subscribe and be notified of breaking news: https://goo.gl/LP45jXCheck out our playlists: https://goo.gl/Swd249Like NZ Herald on Facebook: https://goo.gl/tUC4oqFollow NZ Herald on Instagram: https://goo.gl/oLicXeFollow NZ Herald on Twitter: https://goo.gl/Wi6mbvnzherald.co.nz YouTube Channel

A PLANE passenger has complained about people from economy class using the business class toilets on his flight. 2 The man was unhappy about economy passengers using the business class bathrooms Credit: GettyHowever, few people agreed with the man's complaint, which baffled most people online. It was just people coming right up to the front - or on long haul, just deciding to use the business class bathrooms. Meanwhile, another flight attendant revealed the free perks you can get on board planes - you only need to ask. And a man recently publicly shamed his girlfriend for leaving him in economy class after upgrading her own seat.

Prince Harry and William have no plans for a reunion when Duke of Sussex visits for King Charles' coronationCharles will welcome his son. I think his relationship with William is for another time," a royal expert says ahead of Harry's attendance at the May 6 coronation.