Borrowers bet on rate cuts by locking in short-term mortgages
The proportion of short-term fixed mortgages has reached record levels, signalling that mortgage rates have peaked and that the medium-term outlook is downwards, CoreLogic NZ Chief Property Economist Kelvin Davidson says
The CoreLogic NZ April Housing Chart Pack shows that 56% of new loans by value taken out in February were fixed on one-year terms compared to 36% in December. Continue →