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.
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First home buyers back in action
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 home loans, redeemable share dividends, jump as profits fall
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.
Huge chunk of income needed for average house
Auckland households need to earn a whopping $219,000 to repay the mortgage and avoid financial stress.
Not over yet
A further rise in the OCR is being predicted for the end of the year by ANZ.
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Property prices fall at slower rate as trough is close
Housing analysts are predicting the market is close to finding a floor.
Running backwards into a housing deficit again
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.
Interest rate changes top priority for investors
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.
Top Mortgage Rates
| 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 |
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Acton-Adams returns to Astute
Former Liberty Finance business development manager Rose Acton-Adams has joined Astute as its new sales manager.
Westpac gets new head of third party
Westpac's former head of third party distribution. Liz Canon, has retired.
Liberty makes two new appointments
Liberty Finance has appointed a chief operating officer and a new business development manager.
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Budget boost addresses gender imbalance on KiwiSaver
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.
National Capital serves first KiwiSaver rating report
Key personnel changes in the KiwiSaver industry could have important implications for investment processes and organisational culture.
InvestNow adds another manager to its KiwiSaver scheme
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.