Year of the refix
Average house prices around New Zealand have fallen for five months in a row now despite mortgage interest rates falling over 2% from this time a year ago.
Heartland expects 18% reverse mortgage growth in NZ
Heartland Group grew its reverse mortgage business in New Zealand by 15.5% with growth in total net lending slowed by higher repayments while the Australian business grew 18.5%.
Kiwibank's mortgage lending accelerated in the 2nd half
Kiwibank stepped up lending on mortgages in its second half, taking growth for the full year to almost double its market share.
Overseas expansion and name change
Well-known Auckland mortgage adviser Jeff Royle has expanded his business to Australia and the UK and is changing its name.
Re-fixing holdouts may have had the right strategy as RBNZ turns dovish
Mortgage holders who have been hanging out on short-term fixed rates, hoping that longer-term rates still had further to fall, may be proven to have had the right strategy.
RBNZ cuts OCR to 3%, sees it bottoming at 2.5% in the March 2026 qtr
The Reserve Bank is expecting higher inflation and unemployment and lower economic growth and is also expecting to cut its official cash rate (OCR) twice more to bottom out at 2.5%.
[BREAKING NEWS] OCR cut to 3%, down 25 basis points
OCR reduced to 3 percent, with the Reserve Bank leaving the door open for more cuts if inflation keeps falling.
More stories
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Borrowers need relief
Home loan affordability need another boost with an OCR cut tomorrow, FAMNZ says.
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OCR needs a deeper drop to get economy going
This week’s expected OCR by the RBNZ and a signal it will make another is not going to be nowhere enough to dig the economy out of its hole.
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Economists not expecting next week’s OCR cut to be the last
Economists expect the OCR will drop on Wednesday as the economy struggles and unemployment hits a five-year high.
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[Opinion] Why does ASB not disclose how much advisers write for the bank?
Some companies’ results are more noteworthy for what they don’t disclose than for what they do and ASB Bank has continued its tradition of not reporting how much of its mortgage business depends on mortgage advisers, unlike the other major banks and Kiwibank.
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ASB outpaces market in mortgage growth despite profit dip
ASB Bank continued to increase its mortgage book at a rate above its market share through the year ended June, making up for lost time in the first half of 2024 when its book shrank because its offering wasn’t competitive.
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Gloomy home ownership results
New research shows 72% of Kiwis without a home believe buying a property is beyond their reach.
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Data aligns for OCR cut and inflation easing
Kiwibank says the stars, or data, have aligned for an OCR cut next week to 3% and an eventual move to 2.5%.
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Survey heads in right direction for OCR cut
The RBNZ’s most watched barometer of inflation expectations has dropped after increasing sharply in February.
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New exclusive marketplace launched for buying and selling adviser books
In what could be a global first, Dylan Ferreira from Vega has launched a new website-based business where New Zealand and Australian advisers can exclusively buy and sell mortgage, insurance and wealth books.
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Weak labour data reinforces need for more OCR cuts
Economists are pushing for two OCR cuts before the end of the year in light of the weak labour market data.
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Longer mortgage terms favoured as OCR drops
One-year fixed term mortgages became the overwhelming choice for home buyers in June.
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Further cuts to OCR might be forced on RBNZ
With about 40% of existing mortgages due to roll over in the next six months and another 10% on floating rates, now could be the best time for those borrowers. That’s because Kiwibank is predicting the RBNZ will be forced to cut interest rates more than either it or the market currently expects, due to weaker economic data both here and overseas.
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A lack of love for labour, competition and productivity
Advisers may have to spend time in the next few months giving plenty of clients’ advice on how to manage their mortgages if they lose their jobs.
