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Last Article Uploaded: Tuesday, July 26th, 8:11AM
Mortgage Rates Daily Commentary
Monday 25 July 2016  Add your comment
What's more important: Equity or income?

There's an interesting piece here today which suggests banks are more interested in a borrower's ability to service a loan rather than how much equity is on offer. To see the story  [Read On]

We'd be really interested to hear your views on this. You can email any thoughts to philip@tmmonline.nz

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Latest Headlines

Banks care more about income than equity

Homeowners who want to tap into their increased equity in their homes are being warned they may be disappointed, unless they have had an income boost, too.

Sunday, July 24th, 9:53AM  2 comments

Mortgage broker Christine Lockie, of LoanPlan, said, provided borrowers met loan-to-value restrictions, banks were putting means, income and cashflow first.

"It would appear that many home owners don't want to risk selling their properties if they are unable to replace their existing home within their affordability.

"Instead they're looking to stay put and renovate. However, often increasing an existing mortgage is not easy even when there is good equity,” she said...MORE»

Reserve Bank signals more OCR cuts

Thursday, July 21st, 10:14AM

The Reserve Bank says more official cash rate cuts are likely as it fights to get inflation into its target range.

MORE»

Banks already introducing tougher rules for property investors

Wednesday, July 20th, 9:57PM

[UPDATED - ANZ position added] Three banks, and Sovereign, have introduced tougher new LVR rules for property investors.

MORE»

 

Previous News

Westpac cuts off investor lending

Wednesday, July 20th, 5:56PM

Westpac has acted early and stopped taking any applications for investor loans with less than 40% equity.

MORE»

RESIMAC in merger talks with fellow non-bank lender

Wednesday, July 20th, 1:00PM

Two of the biggest non-bank lenders are looking to merger to take advantage of the changing lending environment in both Australia and New Zealand.

MORE»

Reserve Bank targets investor lending

Tuesday, July 19th, 9:29AM

The Reserve Bank has today released a consultation paper proposing changes to loan-to-value restrictions (LVRs) to further reduce risks to financial stability arising from the current boom in house prices.

MORE»

Odds on for an August cut

Monday, July 18th, 5:14PM

Lower than expected inflation has economists predicting another cut to the official cash rate.

MORE»

How the Reserve Bank makes OCR decisions

Monday, July 18th, 9:58AM

Assistant Reserve Bank Governor John McDermott has explained how the bank formulates and assess monetary policy and comes to its OCR decisions.

MORE»

MORE NEWS»

Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.64 4.75 4.85 4.99
ANZ Special - 4.25 4.35 -
ASB Bank 5.65 4.69 4.75 4.89
ASB Bank Special - 4.25 4.29 4.34
BankDirect 5.65 4.69 4.75 4.89
BankDirect Special - 4.25 4.29 4.34
BNZ - Mortgage One 6.30 - - -
BNZ - Rapid Repay 5.75 - - -
BNZ - Special - 4.25 4.19 4.49
BNZ - Std, FlyBuys 5.69 4.85 4.89 4.99
BNZ - TotalMoney 5.69 - - -
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 6.70 - - -
Credit Union Baywide 5.95 4.99 4.99 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct 6.10 6.45 6.69 7.10
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 5.60 4.85 4.90 -
Housing NZ Corp 5.55 4.69 4.75 4.89
HSBC Premier 5.75 4.19 4.19 4.49
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.60 4.39 4.69 4.99
Kiwibank 5.45 4.70 4.75 4.49
Kiwibank - Capped - - - -
Kiwibank - Offset 5.50 - - -
Kiwibank Special - 4.19 4.29 -
Liberty - - - -
Napier Building Society 6.50 5.80 6.70 -
Nelson Building Society 6.10 4.85 4.99 -
NZ Home Loans 5.85 4.69 4.75 4.49
NZ Home Loans - Specials - - - -
Lender Flt 1yr 2yr 3yr
NZ Home Loans - Specials - 4.19 4.29 4.34
Perpetual Trust 7.70 - - -
Resimac 5.34 4.95 4.99 5.05
SBS Bank 5.69 4.75 4.89 4.99
SBS Bank Special - 4.25 4.15 4.55
Sovereign 5.65 4.69 4.75 4.89
Sovereign Special - 4.25 4.29 4.34
The Co-operative Bank 5.45 4.25 4.29 4.49
TSB Bank 5.54 4.75 4.75 4.99
TSB Special - 4.25 4.19 4.59
Wairarapa Building Society 6.20 5.75 5.95 -
Lender Flt 1yr 2yr 3yr
Westpac 5.75 4.79 4.85 4.99
Westpac - Capped rates - 5.15 5.25 -
Westpac - Offset 5.75 - - -
Westpac Special - 4.25 4.29 4.49
Median 5.75 4.69 4.75 4.89

Last updated: 10 July 2016 11:42am

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