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.
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.
RBNZ details eased LVR restrictions
The Reserve Bank has confirmed its proposal to ease mortgage loan-to-value ratio (LVR) restrictions.
RBNZ's Orr says committee isn't divided
Reserve Bank governor Adrian Orr rejected the suggestion by Act Party leader David Seymour that the monetary policy committee (MPC) is divided.
More stories
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OCR won’t impact the general election
BNZ says the tenor of the RBNZ’s Monetary Policy Statement yesterday has helped depoliticise the bank’s actions.
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OCR could be on hold from now on
The Reserve Bank has lifted the Official Cash Rate to 5.5% and says interest rates need to stay higher to sustainably reduce inflation.
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BREAKING: RBNZ raises OCR by just 25 bps
The Reserve Bank today increased the Official Cash Rate (OCR) by 25 basis points to 5.50%. Here's what the bank said.
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Open letter to Reserve Bank not to raise the OCR
One mortgage boss kicking against any rise in the OCR is Squirrel boss David Cunningham, who says there is still a world of pain to come for Kiwi homeowners – that includes investors.
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Households outlook glum but slightly less so
Households continue to feel glum about the housing market with 15.8% concerned about missing a mortgage payment and 15.5% worried about missing rent in the next three months, an RBNZ survey shows.
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Wealth, the OCR and migration
Residential real estate is a key part of New Zealand’s household wealth.
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Borrowers shying away from too much debt
As the Reserve Bank continues its consultation on new debt-to-income ratios to be in its toolbox by March next year, it’s latest data show mortgage borrowers taking on less debt.
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OCR to stay higher for longer and falling house price deepen - Treasury
Treasury sees no end in sight for falling house prices.
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Another bank joins OCR fray
ANZ economists have broken out from the consensus that the OCR will rise to 5.5% at its highest and they are now predicting it will go to 5.75%.
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Growing demand for non-bank business lending
The exit of two Australian non-bank lenders to business from the New Zealand market isn't representative of the state of the market, according to Prospa NZ managing director Adrienne Begbie.
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Eye of the storm
Westpac says the peak official cash rate might now hit 6%.
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Canstar tells stressed homeowners to talk to a mortgage adviser
Homeowners on average incomes who bought a house two years ago will now be paying 31% of their income on their mortgage, research from Canstar shows.
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ComCom study mulled as trust in banks wanes
Trust in banks diving sharply amid soaring profit announcements.
