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TMM - News

NZ unlikely to ever get 30 year fixed-rate mortgages

Friday 21st of October 2022

Here in New Zealand, the longest fixed-rate term is generally five years.

Why the difference?

Luke Jackson heads the New Zealand branch of the home loans finance company Resimac. He said 30 year fixed-interest mortgages should definitely be tried in New Zealand.

He said they should be doable, with banks or finance companies that offered them protecting their exposure with a 30-year hedge contract with a wholesale money supplier.

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