Will Mortgage Rates Go Down In 2024 Nz. But since the start of 2023, mortgage rates have generally tracked sideways or downward. The rbnz now predicts that borrowing costs will peak at the current level and cuts will begin in the third quarter of 2024.

The statement indicated that there was a small chance of a cash rate increase in 2024. Right now, it looks like the interest rates on home loans in new zealand might be near their peak but when you’re fixing your mortgage, the question is when do you think the rates will drop down significantly (for example, when will they drop by more than 1%).