While mortgages covering 100% of a house’s purchase price are in fashion, particularly given the government’s desire to increase home ownership, one lender is now offering loans covering 102.5% of the purchase price.

The government’s pilot plan to assist first-home buyers into their own homes has so far helped 850 families buy houses with mortgages totalling nearly $100 million, according to Kiwibank, which administers the scheme.

Annual growth in house prices nationally in February was steady at 13.5% although the average sale price jumped 5.9% from January to $289,740, the latest Quotable Value figures show.

Reserve Bank governor Alan Bollard has chosen the hawkish option, raising interest rates again and not ruling out the possibility of further hikes while emphasising that inflation pressures are stronger than expected.

A new service ranking financial institutions according to their strength, quality and profitability (SQP) launched by Interest produces some apparently bizarre results.

Economists are divided as to whether the Reserve Bank will raise interest rates on Thursday with a narrow majority expecting no change.

A major benefit to Wizard Home Loans from its new owner, GE Money, is that it can now offer far more competitive fixed interest rates.

Westpac and Bank of New Zealand's profitability doesn't appear to be suffering unduly as a result of last year's mortgage rate wars.

As well as reaching a key milestone in announcing its maiden profit, Kiwibank is continuing to increase its share of the mortgage market, although its book is still relatively tiny.

ANZ/National Bank lost a smidgeon in market share of the mortgage market in the December quarter but its mortgage book is still growing strongly

The latest Quotable Value figures confirm that while the housing market remains strong, the rate of growth is slowing.

New Zealand Finance Holdings will buy Approved Mortgage Brokers for $1.2 million from April 1.

ASB Bank’s latest survey of housing confidence is likely to send shivers up spines at the Reserve Bank.

ASB Bank’s latest survey of housing confidence is likely to send shivers up spines at the Reserve Bank.

Bank of New Zealand’s price war last year seems to have paid off for it in terms of winning market share, although ASB Bank continues to be the major winner in the mortgage market.

Mortgage Express, the joint venture between Perpetual Trust and the Harcourts real estate agency chain, has appointed its first business development manager.