Interest rates will rise in by three per cent in New Zealand in the months to come, a leading economist has said.
An expert has predicted that interest rates will rise in New Zealand by three per cent.
People seeking
foreign currency mortgages for New Zealand property could see the rate of interest in the country rise by three per cent this year, according to an expert.
Bank of New Zealand chief economist Tony Alexander told Stuff.co.nz that rates could rise from June, but predicted that rises of three per cent would be see from then until 2012.
He added that people who have floating mortgages on their
property investment in New Zealand should plan to factor in these increases to avoid losing out.
Mr Alexander also advised people to switch to fixed-rate products, as the average rate is likely to be lower than floating ones in the coming years.
His comments follow the holding of the Reserve Bank's interest rate at 2.5 per cent.
In other news, New Zealand real estate agency Baileys recently launched a series of scholarships aimed at local people considering a career in property.
Latest News 
