Nick Tuffley: ASB Chief economist on prediction floating mortgage rates could reach nine percent

Imagine your fixed term mortgage rate being upwards of seven percent over the next few years. Well according to ASB we don't have to imagine - it will be a reality. Their latest home loan report says they predict the peak interest rate for fixed term will be between 7-7.5 percent while floating rates could peak at 9 percent - all based on the OCR peaking at 5.25 percent. Chief economist at ASB Nick Tuffley joined Mike Hosking. LISTEN ABOVESee omnystudio.com/listener for privacy information.