Long term house price outlook negative: Westpac
Current low interest rates are likely to sustain house price growth in the near term, but rising rates from 2020 onwards will trigger a fall in the market, economists at Westpac have warned.
Westpac chief economist Dominick Stephens, writing in the bank’s monthly Home Truths report, said the short term outlook on prices was broadly positive, but added the long term picture was decidedly less rosy.
Stephens predicted interest rates would rise rapidly in the early part of the next decade: “We remain convinced that mortgage rates will eventually rise significantly....MORE»
LVR loosening under review: BascandWednesday, November 14th, 10:45AM
Reserve Bank deputy governor Geoff Bascand says the central bank is assessing whether current LVR restrictions are appropriate, following a stabilisation in house prices and bank credit tightening. MORE» |
Harmoney reaches $1 billion in lendingTuesday, November 13th, 10:35AM
Peer to peer lender Harmoney has cracked the $1 billion in lending mark with debt consolidation being the biggest use of funds. MORE» |
BNZ joins the under-4s
BNZ has followed ANZ and is now offering a fixed home loan rate under 4%
MORE»ANZ takes rates below 4%
ANZ has announced its lowest home lending interest rates on record – 3.95% for a fixed one-year term.
MORE»Global recognition for Kiwi mortgage fintech firm
Mortgage fintech company Valocity, whose platform links borrowers, advisers and banks with property valuers, has been nominated for a prestigious global technology award.
MORE»OCR reaction: cut less likely and rates to stay low
Economists believe the Reserve Bank has adopted a slightly more hawkish stance on the OCR, but say the unchanged forecast suggests a continued low interest rate environment.
MORE»What the RBNZ said today
The Official Cash Rate (OCR) remains at 1.75%. We expect to keep the OCR at this level through 2019 and into 2020.
MORE»