Between , the newest Set aside Lender (RBNZ) brought up the state Cash Rate (OCR) from the the-date reasonable regarding 0
Consequently, such expands about cost of credit flowed through to mortgage costs. Inside the , an average you to definitely-season fixed rates to own holder-occupiers into Canstar's mortgage database try dos.58%. At lifetime of composing (), a comparable rates is 6.29%.
However for people about to commit to an alternative home loan or re-finance, it's clear top financial pain has passed.