Move to short term but higher rates
Short term fixed rate loans surged in the first few months of the year.
Short term fixed rate loans surged in the first few months of the year.
Vega Mortgages is joining forces with the nation’s newest aggregator Finsure
The dumping of 11 pages of overly prescriptive affordability regulations under the CCCFA are a welcome return to common sense, the Financial Services Federation (FSF) says.
Climate-related risks need to be actively managed to protect the resilience of the financial system to other shocks, the Reserve Bank’s 2023 climate stress test has found.
Ministers have, over the weekend, announced their first changes to CCCFA.
High and persistent domestic inflation will dampen Reserve Bank enthusiasm for OCR, and subsequently, interest rate cuts any time soon.
The Finance and Mortgage Advisers Association of NZ opens its door to advisers and spells out its proposition.
The latest Reserve Bank figures show 59% of existing mortgages will move onto higher interest rates in the next 12 months.
As the cost of living crisis bites, disputes have risen by 36% and complaints to Financial Services Complaints Ltd (FSCL), a free financial ombudsman service, have risen by 17% .
The mortgage advisory industry is putting in a concerted effort to educate the Commerce Commission that it's views of their role and motivations is plain wrong.
People Group has sold its Mortgage People trail book to Mortgage Lab.
ANZ chief economist Sharon Zollner continues to expect no official cash rate (OCR) cuts this year but other economists, including BNZ's Doug Steel and Kiwibank's Jarrod Kerr and ASB's Mark Smith, expect one cut late this year.
The Monetary Policy Committee today agreed to leave the Official Cash Rate (OCR) at 5.50 percent.
Squirrel CEO, David Cunningham, says it's time to start the monetary policy easing cycle otherwise monetary conditions will continue to tighten due to the lagged effect of monetary policy.
The FMA’s proposed fair outcomes guidance risks becoming another Credit Contracts and Consumer Finance Act situation, says the Boutique Investment Group.
As more small Kiwi businesses fall behind on debt payments they are being reminded to seek advice before applying for loans as the protections under the CCCFA only apply to consumer loans.
After many months of fast and furious rate hikes, the next chapter of monetary policy is upon us: rate cuts. But the question is, who will be the first to turn the page?
Although the country is in a technical recession, credit data trends show a mixed bag.
Distressed housing loans are continuing to rise, February’s monthly figures from the Reserve Bank show, while across the banking system impaired loans have topped $4 billion as the economy worsens.
The vexed issue of clawbacks might form part of the industry meeting with the Commerce Commission over remarks that have rubbed mortgage advisers up the wrong way.