News

Mortgage lending slumps to record low in April

Tuesday 26th of May 2020

According to the latest monthly data from the Reserve Bank, new mortgage commitments fell to $2.74 billion in April, a 55% drop from March and 49.5% fall from April last year.

The figures reflect the lack of activity in the housing market as New Zealand remained in lockdown throughout the month.

Housing market activity only resumed a few weeks ago as the nation entered level two...

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