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Finance

1 Jul 2025

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New record for low equity loans
Mortgage lending in May was back to March levels at $8.6 billion after taking a dip in April. Two years ago, that figure was $5.8 billion.

Call for expected next OCR cut to be delayed
While lower mortgage interest rates are allowing more first home buyers to get into the market, ASB says there is a case for holding a predicted further interest rate cut in July.

Mortgage arrears falling but hardships up
The number of home owners with their mortgages in arrears is dropping.

First home buyers outgun investors again
Investors are again on the back foot in the mortgage market when it comes to the amount being borrowed.

Steadying the unsteady recovery
Although about $2.2 billion will flow back into mortgage holders’ pockets over the next six to 12 months from falling interest rates a big chunk of it will go on paying bills.

Advisers originating fewer BNZ mortgages
Bank of New Zealand is writing a smaller percentage of mortgages through advisers although the percentage of its total mortgage book originated by advisers has continued to grow.

Problem mortgage stockpile grows
While the country’s mortgage stock rose by $1.9 billion in March, the number of problem mortgages also rose by $61 million to $2.4 billion and withdrawals from KiwiSaver on hardship grounds reached a record monthly high.

Major banks trim mortgage rates
One-year special rate is now under 5%.

Mortgage adviser charged with dishonesty
A mortgage adviser who allegedly submitted a false gifting certificate for a client’s home loan application has been charged by the FMA with dishonestly using a document.

NZFSG teams up with Cotality
NZFSG and Cotality (formerly Core Logic) partner to empower mortgage advisers with industry-leading property data and insights.

NZFSG upgrades its CRM
NZ Financial Services Group has launched a new workflow tool, Deal Board, in its CRM that gives mortgage advisers a clear, customisable, real-time view of their loan pipelines — streamlining processes, cutting admin time, and helping businesses stay one step ahead.

Short term mortgage fix still an appealing decision
Fixing mortgages for six months is still an attractive option compared to floating rates for borrowers, ANZ says in its latest Property Focus.

Advisers dismayed at Dosh and Westpac tie-up
Mortgage advisers say they have been slapped in the face by Westpac powering fintech Dosh to offer home loans without any financial advice and giving a loyalty cashback reward of up to 0.20% over the term of a mortgage.

Longer-term mortgage rates fashionable again
Mortgage borrowers nearly 18-month love affair with floating and short-term fixed rates appears to be all but over.

Further interest rate falls not on the cards
ANZ economists say the bulk of mortgage interest rates falls has likely ended, barring any major surprises.

Mortgage borrowing hits a new high
Borrowers signed up for $8.5 billion in new mortgages last month – up 45.2% from $5.8 billion in February and up 40.7% from $6.035 billion March last year, the latest Reserve Bank data show.

The flow through of lower mortgage rates
Although carded one- and two-year fixed mortgage rates are now about 200 basis points (bp) below last year’s high the vast majority of lower mortgage rates have yet to flow though.