All mortgage rates will be above 6% over the coming year, Kiwibank economists believe. At the moment the mortgage rates range from around 4.4% to 6.9%, the economists say in their weekly First View publication. "Mortgage rates are rising, and will rise further with expected RBNZ [Reserve Bank] tightening," Kiwibank chief economist Jarrod Kerr, senior economist Jeremy Couchman and economist Mary Jo Vergara say. "All mortgage rates on offer are likely to lift from the current levels of between 4.4% to 6.9%, to 6% to 7.5% over the coming year," the Kiwibank economists say. Recession risk is why we expect the RBNZ to pause at 3% - and not follow through with its forecast tightening in entirety," the economists say.

Source: Stuff May 23, 2022 23:07 UTC