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Mortgage borrowing hits a new high
Wednesday 30th of April 2025
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.
In March 2023 mortgage borrowers took out a smidgeon more at $6.036 billion.
A large chunk of the new mortgages were borrowers switching banks. Those numbers rose by 52.5% in a month a...
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