OCR preview - RBNZ has more cuts and work to do
Consensus among the country’s main banks is the OCR will be cut to 3.75% on Wednesday but after that all eyes will be on the RBNZ’s Monetary Policy Statement outlining its forecast.
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ComCom's 3 applications per loan demand is 'crazy': FAMNZ
The Commerce Commission is sticking to its recommendation that mortgage advisers should have to submit three “actual offers” to every mortgage applicant, the Finance and Mortgage Advisers Association of New Zealand (FAMNZ) says.
ASB made up for lost time with $2.28b net new mortgages in 1H
ASB Bank looks to be making up for lost time in the mortgage market with its home loan book swelling by $2.28 billion in the six months ended Dec 31.
10 Minute home loan approvals on the cards
One of the possibilities of open banking includes the ability for borrowers to get pre-approval for a home loan in 10 minutes and to make instant low-cost payments.
Borrowers switch from floating to fixed rates at brisk clip
A month is a long time in the home loan world. Between November and December last year new mortgage lending switched swiftly from floating to six-month terms by borrowers taking out new loans.
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Property News
Leaving last year's stumbling housing market behind
As interest rates ease and job losses climb, New Zealand’s housing market faces a mixed year of modest growth, with conflicting forces shaping the outlook for homebuyers and investors.
Don’t bet on house prices rising faster than incomes
Former Reserve Bank Governor and National Party leader Don Brash says there are grounds for believing that house prices may finally have ended the three-decade period when they rose significantly faster than incomes.
Similar Price Growth
Although houses prices typically rise more than apartments over the long-term, the gap is not as wide as many people expect.
Top Mortgage Rates
| SBS FirstHome Combo | 4.69 |
| Unity First Home Buyer special | 5.49 |
| ASB Bank | 5.49 |
| Co-operative Bank - First Home Special | 5.49 |
| Heartland Bank - Online | 5.49 |
| AIA - Go Home Loans | 5.49 |
| Westpac Special | 5.54 |
| ICBC | 5.55 |
| Kiwibank Special | 5.55 |
| BNZ - Std | 5.55 |
| Nelson Building Society | 5.55 |
| BNZ - Std | 5.29 |
| AIA - Go Home Loans | 5.29 |
| Kiwibank Special | 5.29 |
| Westpac Special | 5.29 |
| ASB Bank | 5.29 |
| Heartland Bank - Online | 5.39 |
| ANZ Special | 5.44 |
| TSB Special | 5.45 |
| Unity | 5.49 |
| SBS Bank Special | 5.49 |
| Co-operative Bank - Owner Occ | 5.49 |
| Westpac Special | 5.59 |
| BNZ - Classic | 5.59 |
| AIA - Go Home Loans | 5.79 |
| SBS Bank Special | 5.79 |
| ICBC | 5.79 |
| ASB Bank | 5.79 |
| BNZ - Std | 5.79 |
| Kainga Ora | 5.89 |
| Co-operative Bank - Owner Occ | 5.89 |
| Kiwibank Special | 5.89 |
| TSB Special | 5.89 |
| AIA - Back My Build | 4.94 |
| SBS FirstHome Combo | 4.94 |
| CFML 321 Loans | 5.80 |
| CFML Home Loans | 6.25 |
| Pepper Money Essential | 6.49 |
| Co-operative Bank - Owner Occ | 6.95 |
| Co-operative Bank - Standard | 6.95 |
| ICBC | 6.95 |
| Heartland Bank - Online | 6.99 |
| Kiwibank - Offset | 7.25 |
| Kiwibank | 7.25 |
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People News
From G to V to three
Former head of Vega mortgages moves to adviser group.
Ex Bluestone BDM joins Loan Market
Loan Market makes fifth new appointment in six months.
From MAC to board
The former chairman of the Member Advisory Committee (MAC) – mortgage and lending at Financial Advice NZ is now a board member.
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KiwiSaver News
KiwiSaver market share leader ANZ at bottom of performance table
The latest Morningstar KiwiSaver report shows the largest provider, ANZ with $22 billion under management, continues to be outperformed by most other providers in the core diversified fund categories.
KiwiSaver members open to sacrificing more for future gain
There appears to be an appetite among KiwiSaver members to take home less pay now in order to boost their retirement savings, according to a survey by investment platform Sharesies
Appeal of one-stop shop helps drive Sharesies’ KiwiSaver growth
Sharesies is a recent arrival on the KiwiSaver scene but says it’s finding favour with customers who access all their investments in one place.
RBNZ's Next Move: Eyes on the OCR Forecast
The RBNZ is set to cut the OCR to 3.75%, but what’s next? Kiwibank calls for bold cuts to revive the economy, while BNZ and Westpac predict a steadier approach. [READ MORE]