Below is a chart and excerpt from today's Early Look written by Macro analyst Ryan Ricci.
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3yr fixed rate mortgage lenders are about to need to refinance those loans in June 2023… In the UK as many as 1.8m borrowers will need to refinance next year with ~300,000 deals ending in October and December. In New Zealand ~88% of loans are fixed rate mortgages. 49% of those mortgages will need to be refinanced in less than a year. The list goes on… Buuut that is all fixed rate mortgages where we will have to wait ~1yr to see them refinanced. What about variable rate mortgages which get updated monthly? Check out the Chart of the Day where in Hong Kong (97% of mortgages are variable), Finland (97%), Norway (90%), Poland (89%), Greece (85%), and South Korea (80%). |
