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."

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