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.
Home loan arrears dropped for the first time in eight months, the latest Centrix credit indicator report shows.
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 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.
Auckland households need to earn a whopping $219,000 to repay the mortgage and avoid financial stress.
A further rise in the OCR is being predicted for the end of the year by ANZ.
The Reserve Bank has confirmed its proposal to ease mortgage loan-to-value ratio (LVR) restrictions.
Reserve Bank governor Adrian Orr rejected the suggestion by Act Party leader David Seymour that the monetary policy committee (MPC) is divided.
BNZ says the tenor of the RBNZ’s Monetary Policy Statement yesterday has helped depoliticise the bank’s actions.
The Reserve Bank has lifted the Official Cash Rate to 5.5% and says interest rates need to stay higher to sustainably reduce inflation.
The Reserve Bank today increased the Official Cash Rate (OCR) by 25 basis points to 5.50%. Here's what the bank said.
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.
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.
Residential real estate is a key part of New Zealand’s household wealth.
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.
Treasury sees no end in sight for falling house prices.
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%.
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.
Westpac says the peak official cash rate might now hit 6%.
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.
Trust in banks diving sharply amid soaring profit announcements.