标题: ZT: Get ready to pay more on your mortgage - Governor [打印本页] 作者: NewLynnHse 时间: 2013-10-3 22:05:44 标题: ZT: Get ready to pay more on your mortgage - Governor
New Zealanders are being warned to get ready to pay more on their mortgage after the Reserve Bank said interest rates could hit eight percent as early as next year.
Reserve Bank Governor Graeme Wheeler said rates may even get worse if the move to limit the availability of low deposit loans does not cool the housing market.
Mr Wheeler has been widely criticised over the bank's decision to restrict new lending by requiring a 20 percent deposit but said pressure on the housing market needed to be reduced, especially given banks had been "competing aggressively" for low-deposit borrowers.
In a written opinion piece he said "if the loan-to-value speed limit is unable to slow house price inflation, larger increases in the official cash rate would be required".
Prime Minister John Key has said the Government is very focused on "making sure that we have an efficient economy and that we don't put pressure on interest rates".