New Zealand House Prices Fall by Record as Interest Rates Soar

The video discusses the ongoing rate hikes and their impact on property prices and mortgage rates. It highlights the increase in mortgage interest rates from 2.5% to 6.5% over the past year, affecting buyers significantly. The bank is expected to raise rates again, with future projections indicating a potential cap at 5.5%. This could stabilize mortgage rates and boost buyer confidence. The video also addresses the current mortgage stress in New Zealand, noting a rise in arrears but no significant mortgage sales. Banks are offering support options to those facing stress.

What signs of mortgage stress are currently present in the New Zealand market?

What options do banks have for borrowers facing mortgage stress?