Nick Tuffley: ASB Chief economist on prediction floating mortgage rates could reach nine percent - The Mike Hosking Breakfast

Imagine your fixed term mortgage rate being upwards of seven percent over the next few years.

Well according to ASB we don't have to imagine - it will be a reality.

Their latest home loan report says they predict the peak interest rate for fixed term will be between 7-7.5 percent while floating rates could peak at 9 percent - all based on the OCR peaking at 5.25 percent.

Chief economist at ASB Nick Tuffley joined Mike Hosking.

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