Banks spend big for little gain
Cashback campaign cost banks millions for little change in mortgage customer share
Non-bank lending balloons
The Reserve Bank says residential mortgage lending by non-banks has risen about 30% since the deposit insurance scheme came into force from July 1 last year.
Westpac accelerates home lending and adviser-originated loans
Westpac New Zealand accelerated its home loan lending in the six months ended March, adding $2.1 billion in new lending.
Link gets its first general manager
Former banker steps into new General Manager role at Link Financial Group.
Advisers increased origination of BNZ home loans
Is BNZ rediscovering that ditching mortgage advisers comes at a cost?
Mortgage borrowers catch up on arrears
As economic struggles push the country towards stagflation, borrowers with mortgage arrears continue to decline.
ANZ's reliance on mortgage advisers eases a little
Mortgage advisers originated 58% of ANZ Bank New Zealand’s home loans in the six months ended March, down from 59% in the same six months a year earlier.
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One-year fixed spot on for borrowers - ANZ
ANZ economists see little value in fixing mortgages for more than one year from a pure cost perspective.
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Economists at war over OCR forecasts
ANZ suggests the RBNZ will rise three times this year. Kiwibank says "reckless" rate hikes unwarranted.
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ANZ goes out on a limb and predicts three OCR rises this year
The country’s biggest bank and home loan lender is now predicting three 0.25% OCR rises this year, taking the official cash rate to 3%.
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Mortgage enquiries sink as war drags on and interest rates rise
High fuel prices because of the US and Israel war with Iran, rising interest rates, an increase in banks’ servicing test rates, election year wobbles and general uncertainty over the economy have meant a noticeable drop in mortgage enquiries.
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Non-bank sector hopeful of a more profitable year
Even though margin pressure, the Iran war and election year dynamics are weighing on non-bank lenders, they are cautiously optimistic their businesses will improve this year, KPMG’s Specialist Lenders Insights Report shows.
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OCR on hold
The Reserve Bank has kept the OCR unchanged. Here's what it said.
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RBNZ urged to lower OCR to counter oil price shock recession
While the country’s major banks’ economists expect the RBNZ to look through the initial effects of the Iran war and higher oil prices on inflation and to hold the OCR at 2.25% at its Monetary Policy Review tomorrow, Staircase Financial Management research head Kieran Trass says now is the time to cut the OCR when the oil shock is about to push up costs.
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Billions in wealth lost during one of the severest housing corrections
Homeowners have lost $570 billion in real wealth since the end of 2021 in one of the biggest peacetime housing falls, John Bolton, Squirrel Mortgages founder and group head of property finance reckons.
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Altered documents lead to cancelled licence for mortgage adviser
KAN's tipoff to the Financial Markets Authority leads to mortgage adviser having his FAP licence cancelled.
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BNZ take mortgage competition up a notch
BNZ is upping competition between banks by paying the legal fees of homeowners who switch their mortgages to the bank.
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Mortgage holders big switch to new lenders tapers off
Just 22.3% of the $6.6 billion borrowed in new mortgages during February was for a change of loan provider – the lowest since January last year, the latest Reserve Bank figures show.
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Interest rates expected to rise at a much faster pace
Further interest rate rises look likely over coming weeks, economist Tony Alexander says.
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Another dealer group gets a new CEO
The Kiwi Adviser Network (KAN) has appointed Warwick Slow as its new chief executive.
