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Podcast: The Mike Hosking Breakfast
Episode: Kelly Eckhold: Westpac Chief Economist on the number of fixed-rate loans coming up for renewal
Description: Many Kiwis re-fixed their mortgage last year and will be re-fixing their mortgage again this year too. Four in five borrowers have re-fixed in the past year – a 13-year high. And more than two-thirds of fixed rate loans are due to come up for renewal this year. Westpac Chief Economist Kelly Eckhold told Mike Hosking most people have been opting for one-year or 18-month terms, instead of longer periods. He says those terms have the best interest rates and would have allowed people to benefit from any further OCR cuts. LISTE...