The Generational Impact of the Pandemic on Mortgages

In New Zealand, fixed rate mortgages make up the bulk of existing loans. But more than 70% are fixed for less than a year. So that's going to be an immediate hit to households there. Whereas in places where the fixed periods are short, it nearly delays the pain but the pain will come. First time buyers and recent borrowers are especially vulnerable. Many stretch their finances to buy a home during the pandemic.