Why did ANZ's adviser originated loans fall in the past six months?
TMM talks to ANZ chief executive Antonia Watson to find out why adviser originated loans fell in the past six months.
TMM talks to ANZ chief executive Antonia Watson to find out why adviser originated loans fell in the past six months.
One year mortgage interest rates could be as low as 4.5% by September or October this year if the OCR falls to 2.75% in August as predicted by Squirrel Mortgages.
Drawing up a house deposit loan agreement from the bank of mum and dad has become easier with a New Zealand developed app launched only a few months ago.
Lower home values and easing interest rates are creating a rare opportunity for first home buyers to buy in Auckland and Wellington, where they been locked out for years, Quotable Value says.
Although about $2.2 billion will flow back into mortgage holders’ pockets over the next six to 12 months from falling interest rates a big chunk of it will go on paying bills.
Demand for small business finance continues to grow, as Prospahighlights key industries and regions that financial advisers and brokers can target to diversify their portfolios.
ANZ Bank New Zealand’s reliance on advisers to originate mortgages fell slightly to 59% of net new lending in the six months ended March 31 compared with 61% in the previous first half.
Mortgage borrowers nearly 18-month love affair with floating and short-term fixed rates appears to be all but over.
Only a small amount of the two percentage point cut in the official cash rate (OCR) since August last year has fed into weighted average mortgage rates so far, according to the Reserve Bank.
Bank of New Zealand is writing a smaller percentage of mortgages through advisers although the percentage of its total mortgage book originated by advisers has continued to grow.
House prices and rent increases are likely to be restrained in the near term because of the softness of the housing market, the Reserve Bank says in its latest financial stability report.
Avanti is dropping its non-bank label and switching to being a specialist lender and plans to double its total lending over the next couple of years.
Mortgage advisers accounted for about 64% of the net new mortgages Westpac New Zealand wrote in the six months ended March.
ASB is on a hiring drive to recruit 80 additional home ownership specialists as it prepares for a surge in home loan applications.
Westpac New Zealand sped up its pace of mortgage lending in the six months ended March, adding $1.51 billion in net new mortgages after growth of only a third of that in the previous six months ended September.
Misuse of market power is being levelled at the big four Australian-owned banks by lobby group Banking Reform Coalition. It wants the Commerce Commission to prosecute.
While the country’s mortgage stock rose by $1.9 billion in March, the number of problem mortgages also rose by $61 million to $2.4 billion and withdrawals from KiwiSaver on hardship grounds reached a record monthly high.
ANZ economists say the bulk of mortgage interest rates falls has likely ended, barring any major surprises.
Borrowers signed up for $8.5 billion in new mortgages last month – up 45.2% from $5.8 billion in February and up 40.7% from $6.035 billion March last year, the latest Reserve Bank data show.
Mortgage brokers say they are hearing from many first-home buyers wondering what to do about the slump in their KiwiSaver balances caused by US President Donald Trump's tariff war.