Billions in wealth lost during one of the severest housing corrections
Homeowners have lost $570 billion in real wealth since the end of 2021 in one of the biggest peacetime housing falls, John Bolton, Squirrel Mortgages founder and group head of property finance reckons.
He says most people feel the property market has had a rough couple of years but few seem to grasp how severe the correction has been in real terms.
House prices in New Zealand reached their peak in late 2021 – the culmination of a frenzied run fuelled by near-zero interest rates, Covid-era stimulus, and a collective mania. Properties sold tens of thousands of dollars above asking...MORE»
Altered documents lead to cancelled licence for mortgage adviserWednesday, April 1st, 8:10AM 4 comments
KAN's tipoff to the Financial Markets Authority leads to mortgage adviser having his FAP licence cancelled. MORE» |
BNZ take mortgage competition up a notchTuesday, March 31st, 8:22PM
BNZ is upping competition between banks by paying the legal fees of homeowners who switch their mortgages to the bank. MORE» |
Mortgage holders big switch to new lenders tapers off
Just 22.3% of the $6.6 billion borrowed in new mortgages during February was for a change of loan provider – the lowest since January last year, the latest Reserve Bank figures show.
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Further interest rate rises look likely over coming weeks, economist Tony Alexander says.
MORE»Another dealer group gets a new CEO
The Kiwi Adviser Network (KAN) has appointed Warwick Slow as its new chief executive.
MORE»Where to for mortgage advisers?
Pivot will be the key word for the mortgage industry this year.
MORE»Baden Martin lands new gig at non-bank lender
Baden Martin takes on General Manager role at non-bank lender.
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