Podcasts Other The Mike Hosking Breakfast Steve Jurkovich: Kiwibank Chief Executive on the increased interest rates for mortgage holders

Steve Jurkovich: Kiwibank Chief Executive on the increased interest rates for mortgage holders

Published: Nov. 1, 2023, 6:59 p.m.

Some mortgage holders are in for a tough adjustment come 2024.\xa0

A Reserve Bank report says the average household will spend about 18% of their income on interest payments alone by mid-next year.\xa0

It comes as those on extremely low interest rates in 2019 start turning over to new rates.\xa0

Kiwibank Chief Executive, Steve Jurkovich, told Mike Hosking that the upside is the doubling of interest rates comes from a low base.\xa0

He says in context, the number is pretty normal compared to what we've seen over the past decade.\xa0

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