Rate rises not prompting action

BNZ has just released its latest Financial Futures Research and it highlights a strong disconnect between outlook and action among mortgage holders.

Seventy percent of mortgage holders expect rates to go up this year, according to the research, which surveyed 2,000 people.

Yet, at the same time, 67% of those surveyed didn’t plan to make any changes to their mortgage.

BNZ chief executive Anthony Healy said those surveyed had been doing their homework because most (80%) expected a rise of less than 1% - which is what most economists are predicting.