Mortgages

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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Survey reveals lending concerns

Mortgage advisers are concerned about tightening lending criteria and tough servicing tests, despite the record-low interest rate environment, according to a new survey. 

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Mortgage borrowing rebounds in May

New mortgage borrowing rose by roughly $1.6 billion in May as the property market showed signs of recovery from the Covid-19 lockdown.

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QE the preferred tool for lower rates: economists

Economists say the Reserve Bank views its LSAP programme as the best way of pushing down interest rates, despite talk of a negative OCR in recent months. 

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OCR decision revealed

The Reserve Bank has kept the official cash rate on hold. Here's what the RBNZ said:

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OCR Preview Survey: OCR set to remain on hold

Economists expect the Official Cash Rate to remain on hold this week, but say the Reserve Bank could talk about negative rates in 2021.

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