John Bolton: Squirrel Mortgages CEO says the OCR will keep increasing, but longer-term fixed rates are peaking
Interest rates may have already reached their peak.
In May 2020, borrowers taking out a standard one-year rate were paying an average of 3.2 percent, but that increased to just over 5 percent in May this year.
It comes as ANZ, BNZ and Westpac cut their two-year fixed mortgage rates.
Squirrel Mortgages CEO John Bolton says told Heather Du Plessis Allan the OCR will keep increasing, but longer-term fixed rates are peaking.
“Looks like New Zealand’s economy is slowing down quite quickly. We’ve had a lot of bad news lately, that’s sort of starting to dampen down how fast and how far the market…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.