Mortgage rates drop, but further relief unlikely as OCR stabilises

view original post
By

Rotorua Daily Post·

20 Jul, 2025 04:00 PM4 mins to read



Most of the downward move in mortgage rates is behind us, writes Mark Lister. Photo / Getty Images

Mortgage rates have slumped more than 2% over the past 18 months, but don’t expect much more relief.

The Reserve Bank of New Zealand (RBNZ) left the Official Cash Rate (OCR) unchanged at 3.25% last week, as was widely expected by economists and financial markets.

This was the first “no