House prices are still rising but the market is "past its peak" and mortgage interest rates will rise, Westpac chief economist Dominick Stephens said today. Dominick Stephens forecasts mortgage interest rates to rise. "And eventually, we expect house prices to fall. Mortgage rates will trend higher, Westpac predicted, although the Reserve Bank will make no change to the Official Cash Rate until 2024, but there are still good reasons to expect fixed mortgage rates will rise. This will drive mortgage rates higher independent of wholesale interest rates," he said.

Source: New Zealand Herald March 02, 2021 20:07 UTC