• Interest rates are rising, but Whangarei business owner Tonya Russell says the prospect of bigger loan repayments hasn’t really crossed her mind yet.

She has her mortgage divided into smaller loans, set across different terms, with an offset facility, to minimise her exposure to rate changes.

The mortgage on her business property is fixed, with interest-only payments. “I’m risk averse,” she says. “I hope I get a good rate [when I refix]. But the economy is out of my control so I don’t worry about it. If I have to earn more money I will.”

Your mortgage could become thousands of dollars more expensive in the next couple of years – but new research shows, like Russell, New Zealanders aren’t worried.

​READ MORE: Record low interest rates are a thing of the past, economists say


Tonya Russell is not too worried about future interest rates.


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