The Coalition Government is responsible for bringing down mortgage rates.

False
Nicola Willis
Christopher Luxon
David Seymour
Wynston Peters
Various Social Media Party Channels
National Party Pamphlets
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Mortgage rates are set by banks and influenced by the Official Cash Rate (OCR), which is set independently by the Reserve Bank's Monetary Policy Committee, not by the Government.

The RBNZ explains that the OCR influences market interest rates, including mortgage rates, while banks' funding costs, risk premiums and markups also affect the rates they charge. The OCR fell during 2025, reaching 2.25% in November, and Christopher Luxon, David Seymour and Nicola Willis publicly presented lower rates as evidence of Coalition or Government policy success. Those statements show the Government taking credit for an outcome produced through the independent monetary-policy process, but the listed sources do not establish that the Government was responsible for setting the OCR or directly setting mortgage rates.