Mortgages

RBNZ to talk up negative OCR: preview survey

The Reserve Bank is expected to keep the OCR on hold this week, but could highlight the growing chance of a negative central bank rate. 

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Economy performing better-than-expected: ASB

The New Zealand economy is faring better than expected despite the second lockdown in Auckland, according to ASB economists.

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Households spending 32% of income on mortgage

Kiwi households are forking out an average of 32% of their income on their home loans, according to new research from CoreLogic. 

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Borrowing boom in July – before second lockdown

Home lending soared to $6.5 billion in July during New Zealand's Covid-free period, reaching its highest level since November last year.

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Mortgage deferral scheme extended to March

The Reserve Bank has confirmed the mortgage deferral scheme will be extended until March next year following the second Covid-19 prompted lockdown in Auckland.

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Mortgage deferral programme to be extended

Reserve Bank governor Adrian Orr says the mortgage deferral programme will be extended beyond September, as the Covid-19 pandemic regains a grip on New Zealand.

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OCR on hold but QE expanded to $100 billion

Economists have welcomed the expansion of the Reserve Bank's quantitative easing programme, and say a negative official cash rate is more likely than ever following this week's Covid-19 outbreak.

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Kiwibank expects 6% fall in house prices

Kiwibank economists believe the housing market will only fall by 6% due to Covid-19, revising down their prediction amid signs of "strong resistance". 

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ANZ eases servicing test

ANZ has become the latest bank to ease its servicing test criteria for borrowers, reflecting the lower interest rate environment.

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Mortgage holidays set for extension

Minister of Finance Grant Robertson says the Reserve Bank could extend mortgage holidays for struggling borrowers.

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Home lending jumps in June

New mortgage lending jumped to $5.3 billion in June as the market recovered strongly from the Covid-19 lockdown.

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ASB eases servicing criteria

ASB Bank has eased its lending servicing criteria after cutting home loan rates for high LVR borrowers last week.

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Servicing tests hinder home loan market

Tough servicing tests continue to hinder the home loan market, leaving borrowers unable to tap into attractive headline interest rates.

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Mortgage demand picked to decline

Banks are expecting a fall in demand for mortgage lending in the second half of 2020, according to a new Reserve Bank Credit Conditions Survey.

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Advisers buoyed by strong property market

The New Zealand property market has emerged strongly out of lockdown, according to mortgage advisers, who say they are busy as ever this winter.

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