New LVR restrictions seem to be affecting mortgage demand already, with the Reserve Bank’s latest residential lending data showing a big dip in mortgage lending
Driven by its concerns about the risk the housing market poses broader financial stability, the Reserve Bank announced it would be introducing a new round of LVR restrictions back in July.
The latest LVR restrictions are investor focused and require investors seeking new property loans nationwide to have 40% equity or deposit.
While the new LVR restrictions do not come into effect until October 1, the Reserve Bank said it expected banks to start acting “in the spirit of” the new LVRs immediately...MORE»
Wednesday, August 24th, 6:00AM
Further OCR cuts are looming strongly on the horizon in the wake of the Reserve Bank’s speech yesterday, economists have said.MORE»
Tuesday, August 23rd, 2:39PM
Skyrocketing house prices mean New Zealand banks are facing increased economic risks and will now have higher risk weights, a global ratings agency has said.MORE»
Lowering the OCR risks further fuelling house price growth but the Reserve Bank believes it has been a necessary trade-off to prevent a decline in inflation expectations.MORE»
The Reserve Bank’s new investor-targeted LVR rules come into effect on 1 October, but there are solutions to the restrictions for investors willing to think laterally.MORE»
Auckland woman, Eli Devoy, was sentenced to five years in prison in the Auckland District Court today for involvement in an extensive mortgage fraud scheme.MORE»
HSBC has come out with what it bills as the "lowest ever" home loan rate, but it's not available to everyone.MORE»
The Reserve Bank has delayed the start date of new LVRs aimed at investors from 1 September to 1 October 2016, following banking industry feedback.MORE»