The latest Reserve Bank figures suggest the three increases in official interest rates so far this year have done little to dampen our appetite for mortgage debt.

New Zealand’s fledgling non-bank home lending sector has gained another new entrant which styles itself New Zealand Mortgage Funds.

Ever since the Reserve Bank last raised interest rates back on 15 May, the five major home lenders have been playing a game of possum.

Housing consents rose again in April, with Statistics New Zealand saying the trend in the number has risen 30% since November 2000.

The latest house sales figures from the Real Estate Institute suggest the still very strong housing market is stabilising after dramatic growth since late last year.

Acting Reserve Bank governor Rod Carr has raised interest rates, as expected, but not as much as some economists had predicted.

Acting Reserve Bank governor Rod Carr has raised interest rates, as expected, but not as much as some economists had predicted.

Three of New Zealand’s big five banks still rank among the top 10 retail fund managers, although total funds under management fell slightly in 2001 compared with a year earlier, KPMG’s latest annual survey shows.

While mortgage lending grew in 2001 and still dominates New Zealand bank’s loan books, it declined as a proportion of total lending assets, according to KPMG’s latest annual survey of financial institutions.

Just about everybody expects the Reserve Bank to raise interest rates on Wednesday for a third time this year. The only argument is over whether the official cash rate (OCR) will rise from 5.25% to 5.5% or to 5.75%.

The partnership between rebel non-lawyer conveyancer Lester Dempster and Australian-owned real estate firm LJ Hooker has ended over differences over the way the work was handled.

A cursory glance across the Tasman gives the impression that Australian mortgage holders are in much the same boat as their New Zealand counterparts.

Commercial property is performing well enough that property syndication is making a come-back after several years of troubled times, AMP Henderson property manager Anthony Beverley says.

New Zealand’s non-bank mortgage lenders may not have achieved the success their Australian counterparts have, but that hasn’t deterred one new entrant.

New Zealanders borrowed an additional $761 million in mortgages in March, bringing the total owed on housing to $69.502 billion, according to the latest Reserve Bank figures.

In perhaps a timely reminder to whoever replaces Reserve Bank governor Don Brash, Statistics New Zealand points out that although the trend in new housing consents has jumped 23% in the 15 months since December 2000, the level is still below the last peak in July 1999.