A mortgage adviser says New Zealanders are feeling the strain of heavy home loan rates.

The Reserve Bank's held the Official Cash Rate at 5.5 percent.

Adviser Malcolm Knight says a lot of home owners are asking for interest-only periods or loan repayment holidays.

"If you can get through this next 12 to 18 month period- just hunker down, get through the tough credit crunch period - the light is at the end of the tunnel. We should see rates coming down next year."

LISTEN ABOVE

A mortgage adviser says New Zealanders are feeling the strain of heavy home loan rates.
The Reserve Bank's held the Official Cash Rate at 5.5 percent.
Adviser Malcolm Knight says a lot of home owners are asking for interest-only periods or loan repayment holidays.
"If you can get through this next 12 to 18 month period- just hunker down, get through the tough credit crunch period - the light is at the end of the tunnel. We should see rates coming down next year."
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.