Interest.co.nz·3 min read·medium
These four NZ banks didn’t change their mortgage test rates after last week's OCR hike
✦AI Summary
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.
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.
businesseconomy
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