Mortgage borrowing rises $357 million in August
Thursday, October 11th 2001, 3:59PM
by Jenny Ruth
New Zealanders borrowed an additional $357 million in mortgages in August compared with July, bringing the total owed on housing to $66.34 billion, according to the latest Reserve Bank figures.
They borrowed an additional $3.938 billion in mortgages between August last year and this August. Between August 1999 and this August borrowing rose by $8.146 billion.
Mortgage borrowing in August was 90.8% of
total household indebtedness, down from 91% in August last year
and 91.1% in August 1999. Total household indebtedness in August
was $73.06 billion.
| « The king has triumphed | OCR cut unlikely this week » |
Special Offers
Commenting is closed
|
|
Printable version |
|
Email to a friend |
