4 Oct 2022

Banks lifting test mortgage rates

From Nights, 10:39 pm on 4 October 2022

It's not the best time to get a mortgage, with banks lifting their test mortgage rates. Homebuyers need to show their bank they can service debt at rates as high as 8 per cent in some cases.

Brad Olsen - Principal Economist and director at Infometrics - is here to explain why this is the case.

A mans hand holds NZ dollar bills against a front of a traditional villa house in Auckland, New Zealand. Buy, sale, real estate, insurance, mortgage, bank loans and housing market concept.

Photo: 123RF