Rising interest rates could hit homeowners, budgeting expert warns

  • Rising interest rates could hit homeowners who have borrowed heavily to get on the property ladder, a budgeting expert says.

The warning follows figures provided to the Bay of Plenty Times from five leading banks that show fixed and floating interest rates have climbed in the last 12 months – with mortgage brokers expecting them to creep up further.

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Figures provided by five leading banks show fixed and floating interest rates have climbed in the last 12 months, with mortgage brokers expecting them to creep up further. Photo/NZME