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Brendon’s Away, Graham Steps In!
With Brendon currently hiking the Te Araroa Trail until February, Velocity Founder and Co-Director Graham is stepping in as our go-to voice on your fixed versus floating mortgage strategy over the next three months. His eagle-eyed view of the market makes him the perfect guide through this fixed vs floating moment while Brendon is enjoying his time off.
Join us for a quick Q&A with Graham about your mortgage rates this October!
Floating rates have dropped in response to the OCR cut, and banks are lowering their test rates. ANZ’s test rate is now around 6.7%, down from 9.7% in October 2022—even though the OCR sits at 2.5%. Borrower confidence, however, remains tied to the cost-of-living crunch. Many are still taking a “wait and see” approach.
"Borrower confidence remains tied to the cost-of-living crunch"
Fixed rate reductions were already priced in before the OCR announcement. The Reserve Bank has signalled another cut before Christmas.
"Borrowers are choosing between “good” and “better” rates. We’re nearing the bottom of the cycle, so locking in longer-term rates—24 to 36 months—is worth considering."
It’s about balancing certainty with opportunity. Fixed rates offer stability, while floating rates may still drop. The maths between the two is getting tighter, and while we’re not 100% sure how low rates will go, the opportunity is there.
“The maths around floating and fixing is getting closer.”
Ask yourself: what does life look like over the next 6 to 24 months? Are you sticking with a debt reduction strategy, or do you have one at all?
Having and reviewing that strategy is key. That’s where a good mortgage adviser adds real value.
“What does your life look like in the next 6–24 months?”
Markets shift, life changes, and what worked last year might not be the best fit today. Whether you're planning renovations, expecting a career change, or simply want more financial breathing room, your adviser can help tailor your mortgage structure to match your goals.
“A good mortgage adviser doesn’t just help you get a loan. They help you build a strategy.”
Refixing over the holidays? Read our Home Loans Over the Holidays Guide here.
Want to know what to ask your adviser? Read our mortgage refix tips
Yes. It’s a great time for first-home buyers, especially in Wellington. House prices and interest rates are down. If you’re ready, buy now.
For property investors, location matters. Do your research from multiple angles. If you’re chasing capital gains, the rules have changed, and cash flow is king.
Second-home buyers? Go for it. You’re buying and selling in the same market, and that’s the sweet spot.
“This is a great time for first-home buyers, particularly in Wellington.”
“Cash flow is king for property investors.”
“Second-home buyers are buying and selling in the same market, that’s the key.”
If you’d like tailored advice, Book a 15 -minute call with our team to find out how we can help you with your mortgage strategy.
This article was written by Shona in conjunction with Graham and peer reviewed by our financial advisory team.
Graham Goodisson (FSP95428) is a Financial Adviser with Velocity Financial (FSP95466). No financial decision should be taken based on the information in this blog alone. Please see our disclosure statement on our website.
About Graham
Hi there, I’m Graham and I started Velocity Financial nearly 20 years ago. I had for many years been running youth development programmes for The Salvation Army and I liked the idea of continuing to help people thrive in other areas of their lives. It started with helping first home buyers, and I now work mostly with business owners. This is around planning, lending, and managing risk for them and their staff. I’m passionate about community and connecting those in need with opportunity. I’ve been very privileged to do this in my previous career, now in my business and for 20 years as a Trustee of the Te Aro Health Clinic. Our clinic delivers high quality health care for Wellington's most vulnerable and I'm very proud of the fact that Te Aro is now an integral part of Wellington City Health system. I work in New Zealand's two best cities, Tauranga and Wellington. In Tauranga I swim, bike and run (maybe YOGA if I'm feeling particularly aware!) and in Wellington I mostly seem to buy my adult children dinner and drinks.
The information shared in this post is meant to be general guide to support you on your journey. When making important decisions about your finances, we encourage you to seek independent financial advice first, tailored to your unique situation. As well as talking with a financial adviser, make sure you talk to your lawyer and accountant too – together they'll help you find the best solution for your specific situation. Our knowledgeable financial advisers are here to help. Check out our website for the details about our financial advisory services in our disclosures https://www.velocityfinancial.co.nz/disclosure-statement.