Nearly 40% of property owners face mortgage rate resets in the next six months

Many Kiwi homeowners face rising mortgage costs, with the Reserve Bank signalling future OCR hikes. Nearly 40% of existing mortgages are due for a rate reset within the next six months.

To gain stability, borrowers are adjusting their strategy:

- Shifting away from short 6-12 month fixes

- Locking in longer two-year fixed rates

This means homeowners must now adapt to higher costs after a long period of falling rates, though a massive, sudden spike in rates remains unlikely for now.