About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Tuesday, February 25th, 7:37PM
Mortgage Rates Daily Commentary
Tuesday 25 February 2020  Add your comment
Peer-to-peer lending up at Southern Cross

While Harmoney dropped out of the peer-to-peer lending market this month, Southern Cross says retail investors are keener than ever to provide funding. Its loan book has increased by nearly 50% year-on-year: [READ ON]

rss
Latest Headlines

Growth in mortgage lending slows

Growth in mortgage lending by registered banks is shrinking dramatically and looks like it will go even lower than in the depths of the global financial crisis (GFC).

Sunday, October 10th 2010, 9:59PM

by Jenny Ruth

Based on their June quarter general disclosure statements (GDSs), mortgage lending by registered banks increased just $1.06 billion in the three months compared with $1.32 billion in the March quarter and $2.02 billion in the June quarter last year.

Reserve Bank of New Zealand figures, which are indicative only since its figures vary considerably from those reported in the GDSs, suggest a further step down in growth in the September quarter this year with bank lending increasing only $0.47 billion in July and August.

During the GFC, quarterly growth sank to just $0.97 billion in the December quarter of 2008 (the $0.05 billion increase in the September 2008 quarter was distorted by Bank of New Zealand being the last of the four major banks to transition from reporting under the Basel 1 rules to the Basel ll rules. The major difference between the two is under Basel l banks included business loans backed by residential mortgages in their totals).

From that point, growth picked up each quarter through to the September quarter of 2009 when mortgage lending grew $2.3 billion.

While all the banks were reporting under the Basel l rules until the March quarter of 2008, current growth figures are considerably lower than before the last housing boom began, even given the distortions caused by the changing rules.

For instance, bank lending on residential mortgages increased by $2.41 billion in the March quarter of 2003. Total bank lending on residential mortgages in that quarter was $74.48 billion compared with the $158.22 billion total at June 30 this year.

 

« Taking the hassle out of switching banksHSBC appoints chief economist for NZ and Australia »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.19 3.95 4.15 4.49
ANZ Special - 3.45 3.65 3.99
ASB Bank 5.20 3.89 4.05 4.39
ASB Bank Special - 3.39 3.55 3.89
Bluestone 4.44 4.44 4.29 4.34
BNZ - Classic - 3.49 3.55 3.89
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
Lender Flt 1yr 2yr 3yr
China Construction Bank Special - 3.19 3.19 3.19
Credit Union Auckland 5.95 - - -
Credit Union Baywide 5.65 4.75 4.75 -
Credit Union North 6.45 - - -
Credit Union South 5.65 4.75 4.75 -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.65 4.80 -
HSBC Premier 5.24 3.54 3.20 3.69
Lender Flt 1yr 2yr 3yr
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 3.97 4.05 4.39
Kiwibank 5.15 4.20 4.30 4.64
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - 3.45 3.55 3.89
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.25 4.15 -
Lender Flt 1yr 2yr 3yr
Pepper Money Near Prime 5.64 - 5.44 5.44
Pepper Money Prime 5.18 - 4.98 4.98
Pepper Money Specialist 7.59 - 7.39 7.39
Resimac 4.50 4.45 3.89 3.94
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - 3.39 3.55 3.89
Sovereign 5.30 3.89 4.05 4.39
Sovereign Special - 3.39 3.55 3.89
The Co-operative Bank - Owner Occ 5.15 3.49 3.59 3.89
The Co-operative Bank - Standard 5.15 3.99 4.09 4.39
Lender Flt 1yr 2yr 3yr
TSB Bank 6.09 4.19 4.35 4.69
TSB Special 5.29 3.39 3.55 3.89
Wairarapa Building Society 5.50 3.95 4.05 -
Westpac 5.34 4.15 4.09 4.49
Westpac - Offset 5.34 - - -
Westpac Special - 3.39 3.55 3.99
Median 5.34 3.96 4.09 4.39

Last updated: 21 February 2020 4:32pm

Previous News

MORE NEWS»

News Bites
Compare Mortgage Rates
Compare
From
To
For

To graph multiple lenders, hold down Ctrl key while clicking in list box

Also compare rates to OCR
Find a Mortgage Broker

Add your company

Use map
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com