Wednesday, February 19th 2025

RBNZ cuts OCR by 50pb, signals further cuts sooner

As expected, the Reserve Bank cut its official cash rate (OCR) to 3.75% and signalled further cuts of up to 90 basis points this year but no cuts beyond that.

BREAKING: OCR 3.75% - OCR reduced further as inflation abates

Wednesday, February 19th 2025

BREAKING: OCR 3.75% - OCR reduced further as inflation abates

Annual consumer price inflation remains near the midpoint of the Monetary Policy Committee’s 1 to 3 percent target band. Firms’ inflation expectations are at target and core inflation continues to fall towards the target midpoint.

Wednesday, February 19th 2025

Link gets an edge

In a significant development aimed at providing a more holistic approach to financial services, Edge Mortgages has joined Link Advisory, which is part of Link Financial Group.

Heartland writes off nearly $50m, says reverse mortgages still strong

Wednesday, February 19th 2025

Heartland writes off nearly $50m, says reverse mortgages still strong

Heartland Group says the quality of its reverse mortgage and livestock portfolios remain strong and its recently acquired Australian bank is unaffected even as it announces $49.6 million of impairments for the six months ended Dec 31.

Some comfort for RBNZ ahead of Wednesday’s OCR review

Tuesday, February 18th 2025

Some comfort for RBNZ ahead of Wednesday’s OCR review

The RBNZ’s latest survey of expectations will give it some solace ahead of its OCR decision on Wednesday.

Monday, February 17th 2025

Kiwibank promises advisers 48-hour turnaround on pre-approvals

Kiwibank is continuing to court the support of mortgage advisers by launching a fast pre-approval process for home loans that promises a decision within 48 hours, subject to qualifying criteria.

OCR preview - RBNZ has more cuts and work to do

Friday, February 14th 2025

OCR preview - RBNZ has more cuts and work to do

Consensus among the country’s main banks is the OCR will be cut to 3.75% on Wednesday but after that all eyes will be on the RBNZ’s Monetary Policy Statement outlining its forecast.

More Stories

ComCom's 3 applications per loan demand is 'crazy': FAMNZ

ComCom's 3 applications per loan demand is 'crazy': FAMNZ

Thursday, February 13th 2025

The Commerce Commission is sticking to its recommendation that mortgage advisers should have to submit three “actual offers” to every mortgage applicant, the Finance and Mortgage Advisers Association of New Zealand (FAMNZ) says.

ASB made up for lost time with $2.28b net new mortgages in 1H

ASB made up for lost time with $2.28b net new mortgages in 1H

Wednesday, February 12th 2025

ASB Bank looks to be making up for lost time in the mortgage market with its home loan book swelling by $2.28 billion in the six months ended Dec 31.

10 Minute home loan approvals on the cards

10 Minute home loan approvals on the cards

Wednesday, February 12th 2025

One of the possibilities of open banking includes the ability for borrowers to get pre-approval for a home loan in 10 minutes and to make instant low-cost payments.

Borrowers switch from floating to fixed rates at brisk clip

Borrowers switch from floating to fixed rates at brisk clip

Tuesday, February 11th 2025

A month is a long time in the home loan world.

Between November and December last year new mortgage lending switched swiftly from floating to six-month terms by borrowers taking out new loans.

Shifting the dial on good advice

Shifting the dial on good advice

Monday, February 10th 2025

Some financial advice providers are taking an overly conservative approach to meeting their regulatory obligations, the Financial Markets Authority (FMA) says.

Next big issue for mortgage advisers

Next big issue for mortgage advisers

Friday, February 07th 2025

The question hovering on mortgage advisers’ lips is when they should start pointing clients to longer fixed interest terms on their mortgages.

Number of mortgage holders behind in payments up 1,100 in one month

Number of mortgage holders behind in payments up 1,100 in one month

Tuesday, February 04th 2025

Mortgage arrears are increasing – up 7% year on year in December, the latest Centrix data show.

Wave of mortgage inquiry for advisers

Wave of mortgage inquiry for advisers

Tuesday, February 04th 2025

A surge in business for mortgage advisers in the first month of this year has come off the back of nearly 9,000 new property listings, the highest since January 2015.

TSB demands much wider and braver changes to banking rules

TSB demands much wider and braver changes to banking rules

Monday, February 03rd 2025

TSB Bank is calling for changes to bank capital rules and other regulatory changes to create a level playing field for the smaller banks so they can better compete against the big four Australian-owned banks.

Luxon sacks FEC chair Stuart Smith without explanation

Luxon sacks FEC chair Stuart Smith without explanation

Sunday, February 02nd 2025

The chair of parliament's finance and expenditure committee (FEC) changed last week without any formal announcement or explanation, casting doubt on whether the government's intentions to make meaningful changes to the banking sector.

Switching banks takes a huge chunk of mortgage money

Switching banks takes a huge chunk of mortgage money

Thursday, January 30th 2025

Nearly a quarter of all mortgages loaned in December went to borrowers switching banks – an increase of 94.8% over a year.

RBNZ warns interest rates unlikely to return to pre-covid levels

RBNZ warns interest rates unlikely to return to pre-covid levels

Thursday, January 30th 2025

Reserve Bank chief economist Paul Conway has added his voice to those warning that interest rates, and therefore mortgage rates, aren't likely to return to pre-covid levels.

The squeeze is set to ease

The squeeze is set to ease

Wednesday, January 29th 2025

Borrowers will save on average between $300 and $460 a month on their mortgage repayments when the OCR drops to 3.25% by the middle of the year.

Putting billions back in mortgage borrowers pockets

Putting billions back in mortgage borrowers pockets

Tuesday, January 28th 2025

Over the past three years higher interest rates have translated in dollar terms to a $10 billion increase in mortgage borrowing costs.

SBS FirstHome Combo 4.69
TSB Special 5.35
Unity First Home Buyer special 5.49
ASB Bank 5.49
Westpac Special 5.49
Co-operative Bank - First Home Special 5.49
AIA - Go Home Loans 5.49
Heartland Bank - Online 5.49
ICBC 5.55
Kiwibank Special 5.55
Nelson Building Society 5.55
BNZ - Std 5.29
TSB Special 5.29
ASB Bank 5.29
Kiwibank Special 5.29
Westpac Special 5.29
AIA - Go Home Loans 5.29
Heartland Bank - Online 5.39
ANZ Special 5.44
Unity 5.49
Co-operative Bank - Owner Occ 5.49
SBS Bank Special 5.49
Westpac Special 5.39
BNZ - Classic 5.59
ASB Bank 5.79
BNZ - Std 5.79
ICBC 5.79
SBS Bank Special 5.79
AIA - Go Home Loans 5.79
Co-operative Bank - Owner Occ 5.89
Kiwibank Special 5.89
TSB Special 5.89
Kainga Ora 5.89
AIA - Back My Build 4.94
SBS FirstHome Combo 4.94
CFML 321 Loans 5.80
CFML Home Loans 6.25
Co-operative Bank - Owner Occ 6.45
Co-operative Bank - Standard 6.45
Kiwibank - Offset 6.75
Kiwibank 6.75
ASB Bank 6.89
ANZ 6.89
BNZ - Std 6.94