Mortgage-holders will be holding their breath in after yesterday's OCR announcement.

The Reserve Bank's opted to keep the Official Cash Rate unchanged at 3.25% while signalling the possibility of further cuts. 

But new ASB research suggests interest rates remain volatile, with several opposing forces at play. 

Finance and Mortgage Association Country Manager Leigh Hodgetts told Andrew Dickens that they’re holding out hope for a cut in August. 

She says that people are looking for a bit of relief in their household spending, which would come from interest rates coming down. 

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