New mortgage loan terms again yo-yoing
The latest data from the RBNZ’s series new lending fully secured by residential mortgages, shows home owners are far from set on longer mortgage terms, although the interest rates are below 5%.
Not the end of OCR cuts
While the RBNZ yesterday delivered on what the economy and Kiwis desperately needed, some economists don’t think the OCR cuts are at an end.
OCR Cut: What economists said
The Reserve Bank has decided the economy needs more help than it had previously forecast by cutting its official cash rate (OCR) by 50 basis points to 2.5%.
OCR down 50 points: What the RBNZ said
The Reserve Bank has cut the OCR 50 points to 2.5%.
Westpac decision “a bit of a tragedy” - adviser
Westpac’s negotiations with New Zealand mortgage aggregators about ditching trail payments comes just seven months after it partnered with fintech Dosh to offer home loans without financial advice and a loyalty cashback reward.
Decisions on DTIs and LVRs to be in the hands of new RBNZ committee
The RBNZ is forming a new financial policy committee that will make decisions on debt-to-income (DTIs) and loan to value ratios (LVRs) for lending.
ASB to settle class action for more than $135 million
ASB will pay $135,625,000 to settle a class action against the bank for alleged breaches of the Credit Contracts and Consumer Finance Act (CCCFA), without admitting liability.
More stories
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Investors well and truly back in the market
Mortgages to property investors are back at pre-pandemic levels, Westpac says in its latest housing update.
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Navigating the Future of Mortgage Advice
NZHL General Manager, Franchise & Distribution, Paul Barnes, looks at the future of mortgage advice.
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Westpac looks to can trail commissions
Westpac is proposing to alter the way it remunerates mortgage advisers who originate its mortgages and remove trail commissions.
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How bold will the RBNZ be?
A cut from the RBNZ next week is all but a done deal. The only question is how much it will be – 0.50% or 0.25%?
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Regulation, competition and credit landscape to be centre stage next month
For the first time, the FMA and Commerce Commission will share the stage to speak directly to mortgage and financial advisers about the upcoming transfer of consumer credit regulation from the commission to the FMA at the Financial Services Federation (FSF) conference next month.
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Switching lenders drops back
Although switching banks to get a cash bank or better terms is still top of the list for many mortgage holders, it slipped back last month.
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Time for mortgage advisers to be more hands-on
Advisers need to get on the front foot and work with their clients on a long-term strategy amid a weakening economic outlook, the Finance and Mortgage Advisers Association of New Zealand (FAMNZ) says.
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Plugging the knowledge gap with CPD
A push by FAMNZ to get the Government to mandate continuing professional development (CPD) for mortgage advisers has many wondering how many hours they should be putting in.
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Predictions for big OCR drop next month
Westpac and Kiwibank are predicting a 0.50% OCR drop next month after the economy “slammed into reverse” in the second quarter of this year.
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JB steps back at Squirrel
Squirrel has made two key changes to its senior leadership line-up, as it positions itself to further capitalise on recent momentum and growth.
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Spending confidence low and likely to fall further
More than 40% of households who took part in the latest Westpac McDermott Miller Consumer Confidence say their financial position has deteriorated over the past year.
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Why some mortgage advisers say splitting is good when interest rates are low
While the Reserve Bank is expected to cut the OCR to 2.5% by the end of the year, the age-old question being faced by mortgage advisers from clients about whether to float of fix their mortgage interest rate is more common now than ever before.
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AI central to Loan Market’s future business
Within the next six months AI will be playing a pivotal part in the processing of mortgage applications for Loan Market.
