Mortgage borrowing rises $240m in July
Thursday, August 30th 2001, 6:51AM
by Jenny Ruth
New Zealanders borrowed an additional $240 million in mortgages in July compared with June, bringing the total owed on housing to $65.941 billion, according to the latest Reserve Bank figures.
They borrowed an additional $3.722 billion in mortgages between July last year and this July. Between July 1999 and this July, mortgage borrowing rose by $8.115 billion.
Mortgage borrowing in July was 90.8% of total household indebtedness, down from 91% in July last year and 91.1% in July 1999. Total household indebtedness in July was $72.615 billion.
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