These four NZ banks didn’t change their mortgage test rates after last week's OCR hike
Four major New Zealand banks have opted not to change their mortgage serviceability test rates despite a recent increase in the Official Cash Rate. These internal rates are used to assess a borrower's ability to handle future interest rate hikes.
Why it matters
This decision impacts the borrowing capacity of potential homeowners and reflects how banks are managing risk in a fluctuating interest rate environment.
Four of New Zealand’s major banks have confirmed they haven’t changed their mortgage serviceability rates following the Reserve Bank’s first increase to the Official Cash Rate (OCR) in three years.
The article provides a factual report on bank policies without taking a stance on the appropriateness of the rates.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in