tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Saturday, June 15th, 8:37PM

Mortgages

Mortgage Rates Daily Commentary
Friday 14 June 2024  Add your comment
Game-changing Boost Business Loan Bridges Vital Market Gap

Another player enters the non-bank SME lending space. [READ ON]

rss
Latest Headlines

Home loan lending pace picks up

Home loan lending rose at its fastest rate in almost five years during January, Reserve Bank data released today shows.

Friday, March 1st 2013, 11:54AM 3 Comments

Mortgage lending up was by $952 million in the month, to a new total of $178.66 billion.

It’s the biggest rise, in dollar terms, for nearly five years.

For the week ended February 22, there were 7557 home loan approvals, worth $1.33 billion.

The increasing pace of lending growth has been flagged as a concern for the Reserve Bank, particularly in  Auckland.

Earlier this week, Finance Minister Bill English said the Government was considering formalising the use of macroprudential tools to cool excessive credit cycles.

Its proposals, including requiring banks to hold more capital, adjusting banks’ funding ratios and introducing loan-to-value restrictions, will go to the public for consultation this month.

« Merger completeRBNZ calls for input on macroprudential tools »

Special Offers

Comments from our readers

On 1 March 2013 at 12:35 pm Dean Wright Mortgage Broker said:
If the governement wishies to slow down the use of credit and the value of the current market they should look at the amount of Foreign buyers purchasing residential properties and inflating the prices. The foreign buyers so not hold any NZ passports come to New Zealand buy a home leave it empty when we have New Zealanders of any nationally miss out and this takes away the supply in the market. With some properties going $200-$300k over GV you have to wonder how any New Zealander of any nationally can ever buy a home for their family
On 1 March 2013 at 4:28 pm Amused said:
Well said Dean. Overseas purchasers are clearly driving up Auckland house prices. It’s not New Zealanders. Why is the Government blind to this fact when most people in Auckland are aware of this?

Kiwi first home buyers struggle now to scrape together the 5% deposit needed to get them into a first home in Auckland. If the Reserve Bank does actually end up imposing a higher deposit requirement on the banks when lending to borrowers in Auckland (as it has been threatening to do) it will not make one iota of difference in terms of helping housing there become more affordable for “New Zealanders”. It will actually do the complete opposite!
On 2 March 2013 at 3:52 pm traveller said:
isn't there a puzzle here? By general consent, overseas buyers have much more money than New Zealand buyers and, statistics would suggest they are not buying at the lower end of the market so some other factors are driving up the "affordable end".

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 6.19 - - -
AIA - Go Home Loans 8.74 7.14 6.75 6.39
ANZ 8.64 7.74 7.39 7.25
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 7.14 6.79 6.65
ASB Bank 8.64 7.14 6.75 6.39
ASB Better Homes Top Up - - - 1.00
Avanti Finance 9.15 - - -
Basecorp Finance 9.60 - - -
Bluestone 9.24 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - 7.14 6.79 6.65
BNZ - Green Home Loan top-ups - - - 1.00
BNZ - Mortgage One 8.69 - - -
BNZ - Rapid Repay 8.69 - - -
BNZ - Std, FlyBuys 8.69 7.74 7.39 7.25
BNZ - TotalMoney 8.69 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 6.79 - -
Co-operative Bank - Owner Occ 8.40 6.99 6.79 6.65
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 7.49 7.29 7.15
Credit Union Auckland 7.70 - - -
First Credit Union Special - 7.45 7.35 -
First Credit Union Standard 8.50 7.99 7.85 -
Heartland Bank - Online 7.99 6.89 6.55 6.35
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.60 7.40 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 7.05 6.69 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.74 7.35 6.99
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 7.99 7.79 7.55
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 6.99 6.79 6.65
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.65 7.25 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
Resimac - LVR < 80% 8.84 8.09 7.59 7.29
Lender Flt 1yr 2yr 3yr
Resimac - LVR < 90% 9.84 9.09 8.59 8.29
Resimac - Specialist Clear (Alt Doc) - - 8.99 -
Resimac - Specialist Clear (Full Doc) - - 9.49 -
SBS Bank 8.74 7.74 ▼7.09 ▲6.95
SBS Bank Special - 7.14 ▼6.49 ▲6.35
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 6.14 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 7.79 7.55 7.45
Lender Flt 1yr 2yr 3yr
TSB Special 8.64 6.99 6.75 6.65
Unity 8.64 6.99 6.79 -
Unity First Home Buyer special - 6.55 6.45 -
Wairarapa Building Society 8.60 6.95 6.85 -
Westpac 8.64 7.84 7.35 6.99
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - 7.24 6.75 6.39
Median 8.64 7.19 7.17 6.65

Last updated: 12 June 2024 4:04pm

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  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com