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PM Urges Kiwis to Negotiate Mortgage Rates Amid Rising Costs

12/10/2025

31 6 Full Breakdown

Summary

Story summary

Prime Minister Christopher Luxon and Finance Minister Nicola Willis urge shoppers to compare mortgage rates as wholesale rates rise.
Willis says New Zealanders should negotiate with banks and not accept headline rates.
Westpac has raised some fixed rates, disappointing borrowers after the Reserve Bank's OCR cut.
Labour leader Chris Hipkins criticizes the government for lacking an economic plan and overreliance on the Reserve Bank.

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Story summary

Prime Minister Christopher Luxon and Finance Minister Nicola Willis urge shoppers to compare mortgage rates as wholesale rates rise.
Willis says New Zealanders should negotiate with banks and not accept headline rates.
Westpac has raised some fixed rates, disappointing borrowers after the Reserve Bank's OCR cut.
Labour leader Chris Hipkins criticizes the government for lacking an economic plan and overreliance on the Reserve Bank.