3 in 5 Kiwis at risk of not meeting mortgage payments

[donna]

Hi All,

Looks like the interest rate drops are not coming soon enough for 60% of Kiwi mortgage holders or mortgagees.

Mortgage stress is getting worse - 37% said their financial situation has worsened over the past 12 months.

I wonder what percentage of mortgage holders are on fixed rates and won't get any repayments relief for many more months?

See the link below for the report.

This info came from media agents - CRCPR.com.au. - Data was from FAMNZ (Finance and Mortgage Advisors Assoc, NZ).

[Frezzinghot]

Hi All,

Looks like the interest rate drops are not coming soon enough for 60% of Kiwi mortgage holders or mortgagees.

Mortgage stress is getting worse - 37% said their financial situation has worsened over the past 12 months.

I wonder what percentage of mortgage holders are on fixed rates and won't get any repayments relief for many more months?

See the link below for the report.

This info came from media agents - CRCPR.com.au. - Data was from FAMNZ (Finance and Mortgage Advisors Assoc, NZ).

clearly seeing this in retail spending. xmas will be one of the worst this year for retailers

[chook]

Hard to belive really when rates are 6%. This is incredibly cheap. I consider high rates 10% or higher which I have had previously

[Frezzinghot]

Hard to belive really when rates are 6%. This is incredibly cheap. I consider high rates 10% or higher which I have had previously

Cheap 10yrs ago when average price of home was 400k, not so cheap if you average price is double!

[Frezzinghot]

October 2024


Our latest QV House Price Index shows values decreased nationally by an average of 0.8% this quarter – a smaller rate of reduction than the 1.6% quarterly decline recorded back in September. The average home is now worth $902,231, which is 0.6% less than at the same time last year.