LVRs are not going anywhere
There is no compelling case to roll back the Reserve Bank’s LVRs despite the slowing of the housing market, according to Westpac economists.
Evidence of the extent to which the housing market has slowed, particularly in Auckland, has been coming thick and fast of late.
This has prompted speculation from a range of sources, including the Prime Minister Bill English and Labour Party leader Jacinda Adern, that it might be time for the Reserve Bank to review its LVR rules.
However, in their weekly commentary, Westpac’s economists said today that this suggestion is premature...MORE»
PM rules out DTI ratio ideaWednesday, August 16th, 6:00AM
Prime Minister Bill English has ruled out allowing the Reserve Bank to bring in debt-to-income ratios. It had suggested limiting loans to no more than five times borrowers’ incomes. MORE» |
No dovish nod to future for RBNZThursday, August 10th, 10:32AM
The Reserve Bank’s OCR statement made it clear hikes are a long way off but its tone was still far less dovish than economists were expecting. MORE» |
OCR and MPS: What the Governor said
The Reserve Bank has left the official cash rate at 1.75%, and says is it likely to stay there for "a considerable period". Here is what the governor, Graeme Wheeler said.
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ASB talked up its investments in digital technology, such as its fixed rate rollover tool, when it announced its first-ever $1 billion profit, but one of its first ventures into offering new services to customers looks doomed.
MORE»ASB's billion dollar profit
First Cut - ASB has reported statutory net profit after tax of $1.07 billion for the 12 months to June 30. This represents a 17% increase on the prior comparative period. (Full story to follow)
MORE»Future could hold OCR cuts
Think the OCR will stay on hold this week? So do economists – but some also say there is growing scope for the Reserve Bank to cut again.
MORE»PAA hands out gongs, but not to lenders
The PAA handed out its excellence awards, designed to recognise the passion, pride, professionalism and general excellence in the mortgage advice industry.
MORE»