New regulations dictating how open finance works for the banking sector could be in place by the end of the year with advisers encouraged to start thinking about how developments could change the way they do business.
Reserve Bank licensed deposit taker Xceda is starting to broaden out its loan products offering. MORE »
Start of rate-cutting cycle provides promising signs for New Zealand equities MORE »
Debate among economists is starting to emerge on how much the RBNZ will cut the OCR at its next review on 19 February.
In recent months, falls in mortgage rates have understandably meant there’s been a strong focus on the ‘short end’ of the curve, with borrowers mostly choosing floating rates or 6-12 month fixes. However, the timing of a possible shift to longer-term fixed rates is shaping up as a key theme in the mortgage market this year.
Mortgage borrowers are so confident interest rates will come down even further this year, nearly half the mortgage money borrowed in November was on floating rates.
Buying Bluestone Home Loans New Zealand mortgage book is part of Australian-listed Challenger’s plans for further expansion in New Zealand.
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.
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.
Although houses prices typically rise more than apartments over the long-term, the gap is not as wide as many people expect.
| SBS FirstHome Combo | 4.89 |
| Heartland Bank - Online | 5.49 |
| Unity First Home Buyer special | 5.49 |
| ASB Bank | 5.59 |
| TSB Special | 5.69 |
| Co-operative Bank - First Home Special | 5.69 |
| Nelson Building Society | 5.75 |
| Unity | 5.79 |
| Co-operative Bank - Owner Occ | 5.79 |
| Westpac Special | 5.79 |
| ICBC | 5.79 |
| Heartland Bank - Online | 5.39 |
| SBS Bank Special | 5.49 |
| AIA - Go Home Loans | 5.49 |
| Westpac Special | 5.49 |
| ASB Bank | 5.49 |
| Unity | 5.55 |
| TSB Special | 5.59 |
| Co-operative Bank - Owner Occ | 5.59 |
| ICBC | 5.59 |
| BNZ - Std | 5.59 |
| Kainga Ora | 5.59 |
| ICBC | 5.59 |
| Westpac Special | 5.59 |
| BNZ - Classic | 5.59 |
| TSB Special | 5.69 |
| SBS Bank Special | 5.69 |
| AIA - Go Home Loans | 5.79 |
| ASB Bank | 5.79 |
| Co-operative Bank - Owner Occ | 5.89 |
| BNZ - Std | 5.89 |
| Kiwibank Special | 5.89 |
| Kainga Ora | 5.89 |
| AIA - Back My Build | 4.94 |
| SBS FirstHome Combo | 4.94 |
| CFML 321 Loans | 5.80 |
| CFML Home Loans | 6.25 |
| ICBC | 6.95 |
| Co-operative Bank - Owner Occ | 6.95 |
| Co-operative Bank - Standard | 6.95 |
| Heartland Bank - Online | 6.99 |
| Kiwibank Special | 7.25 |
| Kiwibank - Offset | 7.25 |
| Kiwibank | 7.25 |
Former head of Vega mortgages moves to adviser group.
Loan Market makes fifth new appointment in six months.
The former chairman of the Member Advisory Committee (MAC) – mortgage and lending at Financial Advice NZ is now a board member.
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.
KiwiSaver members will likely be keeping a closer eye on their balances as their pot grows but for most a straightforward management approach remains the best fit, says Milford Asset Management’s Head of KiwiSaver and Retail.
KiwiSaver providers are questioning whether they are adequately equipped to deal with hardship applications, with some wanting to see a centralised service established for savers who need to access their funds.
Open Finance Shake-Up: Are You Ready for the Big Changes Ahead?
Big changes are on the horizon for open finance with new regulations that could be in place by the end of the year.
That means fresh opportunities - as well as challenges - are just around the corner.
So, how might these changes transform the way you do business? [READ ON]