Mortgage lending reaches all-time high in big bank cash backs frenzy
As expected, billions of mortgage dollars washed around the major banks at the end of last year as homeowners chased the big cash backs on offer.
The latest Reserve Bank data for the residential mortgage lending by purpose data series shows changes in loan provider spiked up to $5.78 billion, or 41.1% of the total $14 billion lent in December – record numbers in the series. It was an increase of 169.2% compared to December 2024.
Banks had offered a 1.5% cash back for new mortgages and mortgage advisers reported a flurry of activity...MORE»
Competing with fintechs the way to goThursday, January 29th, 5:00PM
Traditional mortgage advisory companies have been told to take the lead from fintechs in becoming more agile, innovative and aggressive. MORE» |
Interest rates could be higher by the middle of this yearTuesday, January 27th, 2:38PM 1 comment
The ASB and ANZ have joined Westpac in thinking the Reserve Bank will be forced to raise the OCR this year instead of next. MORE» |
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