Mortgage rates falling as economy slows
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Kiwibank chief economist Jarrod Kerr explains why homeowners with mortgages can look forward to lower interest rates as the Reserve Bank recognises that New Zealand’s economy is slowing.
Kerr says he expects the RBNZ will not only cut interest rates in May, but is likely to make a second cut before the end of the year.
The lower official cash rate will help exporters as the Kiwi dollar falls, but savers with money in bank deposits will suffer, according to Kerr.
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