OCR Versus Swap Rates And What Actually Shifts Your Mortgage Rate

Mortgage rate news can feel like a rollercoaster, but the real drivers are often hiding in plain sight. We sit down and talk through the question everyone’s asking: are New Zealand interest rates going up, and what should you actually pay attention to if you’ve got a mortgage coming up for renewal?We get into why the OCR is only part of the story, and how wholesale rates and swap rates can push bank pricing around even when the Reserve Bank hasn’t moved. We also touch on inflation pressure, petrol prices, and the wider global uncertainty that keeps the market volatile. The honest truth: we don’t “know” where rates go next any more than you do, but we can explain what’s moving and how to plan without guessing.From there we shift into real-world decisions: why two-year fixed rates became a favourite, what happens when that “sweet spot” creeps up, and why copying a friend’s strategy can be a trap. We share a cautionary refix story involving a 7.1% three-year rate, break fees, and the importance of both partners being on the same page. We also talk refinancing, including when staying with your bank and negotiating a cash retention can be the smartest move.Finally, we talk property market momentum. We’re seeing plenty of first-home buyers getting good deals while vendors negotiate and stock stays high. If you’re thinking of buying, we explain why starting your pre-approval now can beat the winter-to-spring rush, when bank turnarounds often blow out. If this helped, subscribe, share it with someone refixing soon, and leave a review so more Kiwis can make calmer money decisions.Send us Fan Mail Support the showBuy your first home in NZ Weekly Webinars You thought it's not possible or the dream is too far away? Come to my webinar and I will show you, you are much closer to your dream, than you think you are!Join Here - https://bit.ly/4m9SL72