Mortgage rates could be dropping swiftly across the country as banks move to follow each other in lowering their interest rates.
Massey University banking expert Dr Claire Matthews believes other banks will almost certainly follow.
"It think the mortgage sector continues to be very competitive. It's a key market for the banks so they've all very interested in getting as large a market share as they can."
Matthews says cutting the OCR will likely push up house prices, instead of making them more affordable.
"Cheap money does mean it's more attractive. People can borrow more and therefore they can afford to pay more for their homes."
听
听
Take your Radio, Podcasts and Music with you
Get the iHeart App
Get more of the radio, music and podcasts you love with the FREE iHeartRadio app. Scan the QR code to download now.
Download from the app stores
Stream unlimited music, thousands of radio stations and podcasts all in one app. iHeartRadio is easy to use and all FREE
