Kiwis getting used to high interest rates but warned not to fix for long
Home loan arrears dropped for the first time in eight months, the latest Centrix credit indicator report shows.
Home loan arrears dropped for the first time in eight months, the latest Centrix credit indicator report shows.
Merx has offered business and property lending solutions for over ten years, and more recently launched a wholesale investment fund. Managing Director Andrew Dunning shares the backstory to the Merx Wholesale 1 PIE Trust and what it offers wholesale investors. MORE »
In the current tough market, with record low dwelling sales and low business and consumer confidence, it's important to recognise the challenges we're facing. However, it's also crucial to look forward and identify the opportunities that will arise as $170 billion mortgages come off their fixed rates in the next 12 months. MORE »
KiwiSaver has always been a reservoir of untapped potential for financial advisers. MORE »
The Reserve Bank’s latest mortgage data shows first home buyers' share of new mortgages in April rose to 24.2% – the highest share on record.
SBS Bank’s annual net profit fell nearly 15%, reflecting a big jump in dividends on its redeemable shares and a more than doubling of charges against profit for bad debts.
Auckland households need to earn a whopping $219,000 to repay the mortgage and avoid financial stress.
A further rise in the OCR is being predicted for the end of the year by ANZ.
Housing analysts are predicting the market is close to finding a floor.
With net migration surging to new highs and the residential construction sector slowing on the back of rising interest rates, new demand for housing is now significantly outstripping new supply, the bank says in its latest Property Focus report.
While the RBNZ has put the OCR on pause, it still means a tough road ahead for 50% of mortgage borrowers, including investors, as their fixed term interest rates roll off on to higher repayments over the next six to 12 months.
SBS FirstHome Combo | 5.79 |
HSBC Premier | 6.44 |
Co-operative Bank - First Home Special | 6.45 |
Unity | 6.49 |
China Construction Bank | 6.54 |
Co-operative Bank - Owner Occ | 6.55 |
ICBC | 6.59 |
Heartland Bank - Online | 6.65 |
Kiwibank Special | 6.65 |
BNZ - Classic | 6.65 |
ANZ Special | 6.65 |
ICBC | 6.29 |
Heartland Bank - Online | 6.35 |
Co-operative Bank - Owner Occ | 6.39 |
China Construction Bank | 6.45 |
Westpac Special | 6.45 |
BNZ - Classic | 6.49 |
TSB Special | 6.49 |
Unity | 6.49 |
ANZ Special | 6.49 |
Wairarapa Building Society | 6.49 |
SBS Bank Special | 6.59 |
Westpac Special | 5.99 |
ICBC | 6.09 |
TSB Special | 6.29 |
Kiwibank Special | 6.29 |
AIA - Go Home Loans | 6.29 |
Co-operative Bank - Owner Occ | 6.29 |
ASB Bank | 6.29 |
BNZ - Classic | 6.29 |
China Construction Bank | 6.40 |
Westpac | 6.59 |
Kainga Ora | 6.59 |
SBS Construction lending for FHB | 5.44 |
ANZ Blueprint to Build | 5.88 |
AIA - Back My Build | 6.19 |
SBS FirstHome Combo | 6.19 |
Pepper Money Essential | 6.49 |
Pepper Money Easy | 6.89 |
Westforce Credit Union - Standard | 7.00 |
ICBC | 7.50 |
Credit Union Auckland | 7.70 |
Kiwibank | 7.75 |
Kiwibank - Offset | 7.75 |
Former Liberty Finance business development manager Rose Acton-Adams has joined Astute as its new sales manager.
Westpac's former head of third party distribution. Liz Canon, has retired.
Liberty Finance has appointed a chief operating officer and a new business development manager.
Under the heading ‘backing parents of young children’ the government has taken aim at the on-average lower KiwiSaver balances of women compared to men.
Key personnel changes in the KiwiSaver industry could have important implications for investment processes and organisational culture.
Another growth manager added to the InvestNow KiwiSaver Scheme.
No good fixing long term at the peak
Home loan arrears dropped for the first time in eight months, the latest Centrix credit indicator report shows.
Meanwhile, jumping on long-term interest rates because they’re the lowest on offer can come with significant costs later. Infometrics chief forecaster Gareth Kiernan explains.