Mortgage approvals at 2009 levels

Friday 18 January 2013

Mortgage approval rates are back at levels not seen for more than three-and-a-half years, Reserve Bank data reveals.

In the week before Christmas, there were more than 8000 home loans approved.

It was the first time that benchmark had been passed since April 2009.

The past four weeks of approval figures have been released by the central bank.

In the week ending December 21, there were 8299 approvals, up almost a quarter on a year-on-year basis.

They were worth $1.347 billion, up 34.9%.

In the most recent week for which data is available, ended January 11,  there were 4971 approvals, worth $738 million.

The Christmas holidays snapped a record-breaking run of 36 consecutive weeks of approvals topping $1 billion.

Comments from our readers

No comments yet

Sign In / Register to add your comment

House Prices

Auckland market softening - QV

Values are still increasing in the Super City but the rate is noticeably slower, QV data reveals.


NPT profits up as new CFO joins

The booming property market has meant a 6%+ increase in earnings for National Property Trust (NPT).



The Reserve Bank has cut the OCR to 3.25% today. Here is what the governor Graeme Wheeler said.

Site by PHP Developer