Sovereign has made three new appointments to its Home Loans and Investments division, signalling a growth commitment in the mortgage and investment side of the business.

The Reserve Bank today left the Official Cash Rate (OCR) unchanged at 2.5%.

New business in most product categories of life insurance written in the December quarter fell compred to previous periods.

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New Zealanders are applying for mortgages in greater numbers than at any time in the last seven years.

Delays to Canterbury's rebuild, diminishing inflation pressures and the strength of the New Zealand dollar mean Reserve Bank governor Alan Bollard will probably keep interest rates steady this week and for much, if not all, of this year.

Westpac says people should fix their home loan rates as there is little to be gained in staying on floating rates. It views two- to four-year fixed mortgage rates as currently being the best value for borrowers.

NZAX-listed GFNZ Group (Geneva Finance) has announced a share placement giving financial services company Federal Pacific Group (FedPac) a 19.9% stake.

Partners Life gets a highly respected banking man onto its board

Partners Life gets a highly respected banking man onto its board.