The rising trend in housing consents begun in January last year continued in February, according to Statistics New Zealand.

Even though the Reserve Bank raised rates on Wednesday, it is only this morning that the first major bank, WestpacTrust has raised its floating mortgage rate.

As if to vindicate Reserve Bank governor Don Brash’s decision to raise interest rates, the latest real estate sales figures show the median house price at a record in February and sales activity at its strongest since March 1996.

Contrary to most economists’ expectations, Reserve Bank governor Don Brash raised his official cash rate (OCR) from 4.75% to 5%, citing a stronger than expected New Zealand economy and a less threatening global economy.

Contrary to most economists’ expectations, Reserve Bank governor Don Brash raised his official cash rate (OCR) from 4.75% to 5%, citing a stronger than expected New Zealand economy and a less threatening global economy.

For once economists are unsure what the Reserve Bank will do with rates on Wednesday when it makes its Monetary Policy Statement.

Australia-based Wizard Home Loans, which opened its 11th New Zealand office in February, is now writing nearly $40 million in mortgages here each month.

Real estate agency Bayleys confirms investment in Auckland residential property is paying dividends with net returns on purchase price now exceeding 7%.

WestpacTrust took Good Returns' review of the major banks' home loan calculators published in mid-January seriously.

Most of the signals coming from Auckland's residential market suggest it's an excellent time to invest there.

The strength of the housing market’s recovery means interest rates are likely to rise sooner than expected, according to Bank of New Zealand economist Stephen Toplis.

New Zealanders borrowed an additional $422 million in mortgages in January, bringing the total owed on housing to $68.3 billion.

January residential building consents were up on both December and January last year, but Statistics New Zealand says that the trend, which has been increasing since January last year, appears to have slowed in the last few months.

LJ Hooker set to establish mortgage business as part of its one-stop shop plans.

The latest real estate sales figures show the strong recovery in evidence late last year has continued into 2002.

The government’s Kiwibank isn’t planning to do business through mortgage brokers initially, but may consider doing so further down the track.