The turning point has come.
Borrowers should start hopping out of a floating rate and into short-term fixed mortgage rates according to BNZ economist Tony Alexander.
Fourteen lenders increased their short-term rates over the last 10 days and lenders are expected to keep increasing short-term rates as the Official Cash Rate is expected to rise on June 10 after being historically low at 2.5% since last year.
There are no mortgage rate changes to advise of today.
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