Homeowners will take easy option if mortgage interest rates rise substantially
"Particularly concerning that 20% of people with mortgages will extend the term if their repayments increased by $120 or more" – Paul Carter, BNZ
An $80 a fortnight increase in mortgage payments won’t worry most homeowners as banks anticipate interest rate rises but a $120 rise is a different story.
For most homeowners, a mortgage repayment increase at the lower end will be overcome by cutting a few luxuries, according to BNZ Financial
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Sally Lindsay
Fri, 21 Apr 2017
Fri, 21 Apr 2017
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Homeowners will take easy option if mortgage interest rates rise substantially
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