Many Kiwis re-fixed their mortgage last year and will be re-fixing their mortgage again this year too. 

Four in five borrowers have re-fixed in the past year – a 13-year high. 

And more than two-thirds of fixed rate loans are due to come up for renewal this year. 

Westpac Chief Economist Kelly Eckhold told Mike Hosking most people have been opting for one-year or 18-month terms, instead of longer periods. 

He says those terms have the best interest rates and would have allowed people to benefit from any further OCR cuts. 

LISTEN ABOVE 

Many Kiwis re-fixed their mortgage last year and will be re-fixing their mortgage again this year too.&nbsp;
Four in five borrowers have re-fixed in the past year – a 13-year high.&nbsp;
And more than two-thirds of fixed rate loans are due to come up for renewal this year.&nbsp;
Westpac Chief Economist Kelly Eckhold told Mike Hosking most people have been opting for one-year or 18-month terms, instead of longer periods.&nbsp;
He says those terms have the best interest rates and would have allowed people to benefit from any further OCR cuts.&nbsp;
LISTEN ABOVE&nbsp;

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Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more.

The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Kelly Eckhold: Westpac Chief Economist on the number of fixed-rate loans coming up for renewal

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/a3b039f9-3fe3-422d-a667-b3e5013ddbaa/transcript

A small tip on news coverage. 

The media can go some small way to redeeming its reputation by asking more questions. 

One of the current obsessions is the closure of hospitality outlets. 

A café only needs to announce their closing, and the media can't swoop fast enough with a doom and gloom headline. 

To be fair, The Hospitality Association doesn’t help. They roll out no shortage of misery stories. 

Ruby in Auckland got headlines the other day after they announced they were leaving downtown Auckland. Now, Ruby isn't hospitality, but the same fetish for bad headlines applies. 

Get into the detail and, yes, the Auckland vibe isn't what it might once have been, but the real reason they were leaving is the space didn’t suit them anymore. They were off elsewhere and days later their original space was snapped up by a business that was keen to expand. 

Fast forward to this week and it’s the Rice Bowl Burger Bar in Wellington. 

Cue the Stuff headline: "Another Wellington hospo business announces closure". 

Here is what I know: every story has a story. It is not always the economy. In fact, often it isn't the economy. In some cases, it's wrong place i.e. they took the car parks away, or sometimes it's bad luck i.e. they built the CRL around you and didn’t compensate you. 

Sometimes it's because you aren't very good at your job i.e. your food is crap and there are better places down the road. 

Sometimes it's about migration. Hospo is an easy way to buy work for you and the family, but that doesn't mean you're any good or understand the culture. But it is a ticket to work and a visa. 

The evidence, for those who want to look at it, shows hospo for those who work hard, offer good food and good service, does well. The country, sadly, is over hospo-ed. 

And irony of ironies, despite the closure and woe and misery headlines, we actually have more hospo outlets than we ever have. 

One closes, but at least another one, if not more, open. But they don’t write about the start-ups. 

Because that would be just a bit too upbeat, wouldn't it? 

A small tip on news coverage.&nbsp;
The media can go some small way to redeeming its reputation by asking more questions.&nbsp;
One of the current obsessions is the closure of hospitality outlets.&nbsp;
A café only needs to announce their closing, and the media can't swoop fast enough with a doom and gloom headline.&nbsp;
To be fair, The Hospitality Association doesn’t help. They roll out no shortage of misery stories.&nbsp;
Ruby in Auckland got headlines the other day after they announced they were leaving downtown Auckland. Now, Ruby isn't hospitality, but the same fetish for bad headlines applies.&nbsp;
Get into the detail and, yes, the Auckland vibe isn't what it might once have been, but the real reason they were leaving is the space didn’t suit them anymore. They were off elsewhere and days later their original space was snapped up by a business that was keen to expand.&nbsp;
Fast forward to this week and it’s the Rice Bowl Burger Bar in Wellington.&nbsp;
Cue the Stuff headline: "Another Wellington hospo business announces closure".&nbsp;
Here is what I know: every story has a story. It is not always the economy. In fact, often it isn't the economy. In some cases, it's wrong place i.e. they took the car parks away, or sometimes it's bad luck i.e. they built the CRL around you and didn’t compensate you.&nbsp;
Sometimes it's because you aren't very good at your job i.e. your food is crap and there are better places down the road.&nbsp;
Sometimes it's about migration. Hospo is an easy way to buy work for you and the family, but that doesn't mean you're any good or understand the culture. But it is a ticket to work and a visa.&nbsp;
The evidence, for those who want to look at it, shows hospo for those who work hard, offer good food and good service, does well. The country, sadly, is over hospo-ed.&nbsp;
And irony of ironies, despite the closure and woe and misery headlines, we actually have more hospo outlets than we ever have.&nbsp;
One closes, but at least another one, if not more, open. But they don’t write about the start-ups.&nbsp;
Because that would be just a bit too upbeat, wouldn't it?&nbsp;

Mike's Minute: There are more good news, than bad, hospo stories

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/ab1f83bf-d189-42a9-9955-b3e50156b30f/transcript

On the Mike Hosking Breakfast Full Show Podcast for Tuesday 3rd of February, Education Minister Erica Stanford unpacks the new reporting system for junior education. 

Meta VP and Global Head of Safety Antigone Davis is in the country and discusses what they're doing to protect kids online and her thoughts on the social media bans gaining traction around the world. 

9News Finance Editor Chris Kohler puts both our and Australia’s financial concerns in humorous light and discusses his book ‘How They Get You’. 

Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts. 

LISTEN ABOVE 

On the Mike Hosking Breakfast Full Show Podcast for Tuesday 3rd of February, <a href="https://www.newstalkzb.co.nz/on-air/mike-hosking-breakfast/audio/erica-stanford-education-minister-on-the-new-style-of-school-reports-for-junior-education/">Education Minister Erica Stanford</a> unpacks the new reporting system for junior education.&nbsp;
<a href="https://www.newstalkzb.co.nz/on-air/mike-hosking-breakfast/audio/antigone-davis-metas-global-head-of-safety-on-youth-social-media-bans-and-safety/">Meta VP and Global Head of Safety Antigone Davis</a> is in the country and discusses what they're doing to protect kids online and her thoughts on the social media bans gaining traction around the world.&nbsp;
<a href="https://www.newstalkzb.co.nz/on-air/mike-hosking-breakfast/audio/chris-kohler-9news-finance-editor-author-influencer-on-saving-money-his-book-how-they-get-you/">9News Finance Editor Chris Kohler</a> puts both our and Australia’s financial concerns in humorous light and discusses his book ‘How They Get You’.&nbsp;
Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.&nbsp;
LISTEN ABOVE&nbsp;

Full Show Podcast: 03 February 2026 

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/582ebecc-fb99-4b01-b2e1-b3e5014c84db/transcript

Fresh allegations have emerged linking former UK-US Ambassador Lord Mandelson to Jeffrey Epstein. 

Newly released files suggest Mandelson shared internal government information with the convicted sex offender. 

The revelations follow the release of photographs showing Mandelson in his underwear. 

Mandelson was sacked as the ambassador last year and is now stepping down from the UK Labour Party entirely. 

UK Correspondent Rod Liddle told Mike Hosking the Labour Party’s leadership is tainted, as Sir Keir Starmer made him the Ambassador having known he had connections with Epstein.  

LISTEN ABOVE 

Fresh allegations have emerged linking former UK-US Ambassador Lord Mandelson to Jeffrey Epstein.&nbsp;
Newly released files suggest Mandelson shared internal government information with the convicted sex offender.&nbsp;
The revelations follow the release of photographs showing Mandelson in his underwear.&nbsp;
Mandelson was sacked as the ambassador last year and is now stepping down from the UK Labour Party entirely.&nbsp;
UK Correspondent Rod Liddle told Mike Hosking the Labour Party’s leadership is tainted, as Sir Keir Starmer made him the Ambassador having known he had connections with Epstein. &nbsp;
LISTEN ABOVE&nbsp;

Rod Liddle: UK Correspondent on the latest Epstein allegations around Lord Peter Mandelson

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/ac344571-a577-46cf-93ed-b3e50153a119/transcript

Kelly Eckhold: Westpac Chief Economist on the number of fixed-rate loans coming up for renewal

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