Yet another week and none of the banks have passed on the Reserve Bank's latest official cash rate (OCR) cut to customers on their floating mortgage rates, nearly three weeks after the event.

Not only did Reserve Bank governor Alan Bollard slash interest rates again today, he indicated further modest cuts are likely and that rates will remain at or below current levels through to late 2010.

Bank of New Zealand’s home loans book, which accounts for 50% of its total lending portfolio, grew by $500 million to $24.5 billion in the six months ended March, according to information published by Australia-based parent, National Australia Bank (NAB).

Reserve Bank governor Alan Bollard will probably cut interest rates again on Thursday despite tentative signs improving global sentiment and at least partly to offset the rising New Zealand dollar.

Economists are expecting Reserve Bank governor Alan Bollard will cut the official cash rate (OCR) again when he next reviews it on April 30 with the only debate being by how much.

Kiwibank was the most active mortgage lender in the December quarter by a country mile while the major Australian-owned banks pulled down the shutters.

HSBC continued to run down its mortgage book in the December quarter although profitability surged, despite charges for impaired loans nearly doubling.

In Southland Building Society’s first quarter as a registered bank its net profit jumped sharply, despite a big increase in charges for impaired loans, although its mortgage book shrank slightly.

ASB Bank’s second quarter profit was flat as losses on impaired loans charged to profit jumped while its mortgage book grew only slightly.

Property market and global market conditions have deteriorated significantly since its investors voted in favour of its debt restructure plan in early December, Hanover Finance said in its March investor update.

Reserve Bank governor disappointed those hoping for a bigger interest rate cut but still cut his official cash rate (OCR) to an historic low citing the very rapidly deteriorating world economy and extreme volatility in international financial markets.

ANZ National Bank appears to have all but closed up shop on the mortgage lending front.

Reserve Bank governor Alan Bollard will likely cut interest rates again on Thursday amid the intensifying global recession with the only debate being by how much.

Marac has benefited greatly from the government’s guarantee of its debentures but it won’t be facing a funding "cliff" once the guarantee expires.

Westpac New Zealand’s December quarter net profit again shrank slightly as charges for bad loans climbed and its share of the mortgage market slipped further.

Former NZMBA chairman Geoff Bawden’s aggregation group is about to re-brand with most its mortgage and insurance brokers agreeing to begin operating under the same brand name rather than their individual business names.