Monday, March 04th 2024

Mortgage lending grows but still soft

New Reserve Bank mortgage figures show $3.4 billion of mortgage lending in January.

Pepper says HSBC acquisition integrated without need of more staff

Saturday, March 02nd 2024

Pepper says HSBC acquisition integrated without need of more staff

Pepper Money says it has been able to complete the acquisition of the HSBC New Zealand mortgage portfolio and to integrate it without needing any additional full-time employees.
 

Westpac loaded up on home loans in the Dec Qtr after a quiet period

Friday, March 01st 2024

Westpac loaded up on home loans in the Dec Qtr after a quiet period

Westpac charged back into the mortgage market in the December quarter, lending a net $874.4 million in new housing loans after a quiet September quarter when it lent just $88.2 million in new housing loans, according to the Reserve Bank's bank financial strength dashboard.

Rising bank funding costs to put upward pressure on mortgage rates: RBNZ

Thursday, February 29th 2024

Rising bank funding costs to put upward pressure on mortgage rates: RBNZ

The Reserve Bank expects that rising bank funding costs will keep putting upward pressure on mortgage rates, even as swap rates in the wholesale market start to fall.

RBNZ holds OCR at 5.5%; no cuts until mid-2025

Wednesday, February 28th 2024

RBNZ holds OCR at 5.5%; no cuts until mid-2025

The Reserve Bank left its official cash rate (OCR) unchanged at 5.5% but said it has a limited “ability to tolerate upside inflation surprises.”

BREAKING: OCR 5.50% - Monetary Policy remains restrictive

Wednesday, February 28th 2024

BREAKING: OCR 5.50% - Monetary Policy remains restrictive

The Monetary Policy Committee today agreed to hold the Official Cash Rate (OCR) at 5.50%.

Insurance an increasing concern for mortgage advisers

Wednesday, February 28th 2024

Insurance an increasing concern for mortgage advisers

One of the biggest challenges emerging for mortgage advisers is insurance.

More Stories

Takeover offer made for Prospa

Takeover offer made for Prospa

Tuesday, February 27th 2024

A consortium led by the Salter Brothers Tech Fund has launched a takeover scheme for small business lender Prospa Group backed by the latter's board that values Prospa at A$74 million.

Reaching towering levels of sales

Reaching towering levels of sales

Tuesday, February 27th 2024

Christchurch-based mortgage adviser Sue Clydesdale of Mortgage Express has reached the lofty heights of $1 billion in settled sales.

RBNZ piloting a plane without knowing how hot the engine is running

RBNZ piloting a plane without knowing how hot the engine is running

Monday, February 26th 2024

Economists are divided on whether the Reserve Bank will lift the OCR or leave it at 5.5% at its review on Wednesday.

Much higher OCR not impossible - ANZ

Much higher OCR not impossible - ANZ

Friday, February 23rd 2024

Homeowners should consider their ability to service a mortgage that is two to three percentage points above existing rates before taking it on, say ANZ economists.

Kiwibank accounted for 25% of all bank mortgage lending in Dec half year

Kiwibank accounted for 25% of all bank mortgage lending in Dec half year

Thursday, February 22nd 2024

Kiwibank grew its its mortgage book by $1.29 billion in the six months ended December and accounted for nearly a quarter of all mortgage lending by registered banks for the six months, based on Reserve Bank data.

ASB has only 370 distressed home loan customers

ASB has only 370 distressed home loan customers

Friday, February 16th 2024

The ASB Bank has only 370 out of its about 230,000 home loan customers that have got into financial strife as a result of rising interest rates, chief executive Vittoria Shortt says.

ASB admits advisers don't like its pricing

ASB admits advisers don't like its pricing

Thursday, February 15th 2024

ASB chief executive Vittoria Shortt acknowledges her bank has lost ground with mortgage advisers because of its uncompetitive pricing, but she isn't promising anything is going to change in a hurry.

ASB's mortgage book shrank $518m from June

ASB's mortgage book shrank $518m from June

Wednesday, February 14th 2024

[UPDATED] ASB has reported a 10.8% fall in first-half statutory net profit, reflecting a sharp drop in profit margins as well as sharp drops in both interest income and interest expense.

Survey shows inflation expectations falling – good news for RBNZ

Survey shows inflation expectations falling – good news for RBNZ

Wednesday, February 14th 2024

Inflation expectations falling back across the board will be welcome news for the Reserve Bank.

RBNZ cries wolf – Kiwibank

RBNZ cries wolf – Kiwibank

Tuesday, February 13th 2024

Economists will be keeping their eyes on today’s release of the RBNZ’s survey of inflation expectations as financial markets price in an OCR rise either this month or April.

NZers adjustment to higher rates about 80% complete: RBNZ

NZers adjustment to higher rates about 80% complete: RBNZ

Tuesday, February 13th 2024

New Zealanders with mortgages are about 80% through the process of transitioning to higher interest rates, Chris McDonald, the Reserve Bank's manager of system monitoring and analysis told parliament's finance and expenditure committee.

Property investors should consult mortgage advisers on DTI impacts

Property investors should consult mortgage advisers on DTI impacts

Monday, February 12th 2024

A property finder is urging investors to consult their mortgage adviser on how debt-to-income (DTI) restrictions, which RBNZ will probably implement about mid-year, will affect their buying power.

Unemployment up, OCR cuts a way off, house building tanking

Unemployment up, OCR cuts a way off, house building tanking

Thursday, February 08th 2024

Despite unemployment ticking up to 4% from 3.9%, labour market conditions haven’t eased as much as the Reserve Bank expected making it likely that the first OCR cut will be later than financial markets are pricing in, says Westpac.

FAMNZ v FANZ; New association appoints old hand

FAMNZ v FANZ; New association appoints old hand

Tuesday, February 06th 2024

Australian mortgage adviser association sets up shop in New Zealand with a name very similar to FANZ and its new country head is an ex-FANZ staffer.

Heartland Bank - Online 6.69
Unity 6.99
SBS FirstHome Combo 7.05
ICBC 7.05
China Construction Bank 7.09
Co-operative Bank - First Home Special 7.09
Wairarapa Building Society 7.15
ANZ Special 7.24
Westpac Special 7.29
ASB Bank 7.29
BNZ - Classic 7.29
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.45
TSB Special 6.75
China Construction Bank 6.75
ANZ Special 6.79
Unity 6.85
BNZ - Classic 6.85
ICBC 6.85
ASB Bank 6.85
Wairarapa Building Society 6.85
Westpac Special 6.89
Westpac Special 6.39
China Construction Bank 6.40
ICBC 6.49
BNZ - Classic 6.55
ASB Bank 6.55
SBS Bank Special 6.59
Kiwibank Special 6.59
AIA - Go Home Loans 6.69
Co-operative Bank - Owner Occ 6.75
TSB Special 6.79
Westpac 6.99
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50