The duelling forces set to determine which way NZ mortgage rates will go 18 Jan, 2021 04:34 AM 4 minutes to read Home mortgages rates are expected to remain low while the Reserve Bank keeps a lid on wholesale rates. Photo / File Home mortgages rates are expected to remain low while the Reserve Bank keeps a lid on wholesale rates. Photo / File New Zealand's record-low mortgage rates look likely to stay low despite a bump in bond yields. Banks have availed themselves to $1.04 billion in cheap funding from the Reserve Bank's 'funding for lending' programme (FLP) since the scheme kicked off last month, data from the central bank shows.