New Zealand

Mortgage rates have skyrocketed, but deposit rates are still low. Are banks stripping savers?

Fixed deposit rates have not risen as high as mortgage rates.Photos / files

Mortgage rates have risen sharply in the last six months, but fixed deposit rates haven’t risen that much.

The two-year fixed-term mortgage rate for June was about 2.49 per person.

Mortgage rates have skyrocketed, but deposit rates are still low. Are banks stripping savers?

Source Mortgage rates have skyrocketed, but deposit rates are still low. Are banks stripping savers?

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