Non-performing housing loans plunged by $55 million in July just as new mortgage lending was 24.4% higher in the quarter than a year ago.

Only one of the major banks appears to have made changes to its clawback policy despite it being one of the 14 recommendations in last year’s Commerce Commission’s report into retail banking competition the Government is implementing.

Housing affordability is at its best since 2019 and with ANZ predicting no growth in prices for the rest of the year it could improve further for first home buyers.

A new high of $2.6 billion in mortgage money changed lenders last month.

Recommendations in the recently released Finance & Expenditure Select Committee inquiry into banking competition are on the right track to encourage competition, Squirrel Mortgages says.

A new country manager for the Finance and Mortgage Advisers Association of New Zealand (FAMNZ) is expected to be appointed in the next fortnight.

First home buyers’ share of the housing market is hovering at its highest in 20 years – making them the dominant buying force all year.

Failure to give customers legally required information about their loans and, in some cases, agreed interest rate discounts had landed Westpac in hot water.

Average house prices around New Zealand have fallen for five months in a row now despite mortgage interest rates falling over 2% from this time a year ago.

Home loan affordability need another boost with an OCR cut tomorrow, FAMNZ says.

This week’s expected OCR by the RBNZ and a signal it will make another is not going to be nowhere enough to dig the economy out of its hole.

Economists expect the OCR will drop on Wednesday as the economy struggles and unemployment hits a five-year high.

New research shows 72% of Kiwis without a home believe buying a property is beyond their reach.

Kiwibank says the stars, or data, have aligned for an OCR cut next week to 3% and an eventual move to 2.5%.

The RBNZ’s most watched barometer of inflation expectations has dropped after increasing sharply in February.

In what could be a global first, Dylan Ferreira from Vega has launched a new website-based business where New Zealand and Australian advisers can exclusively buy and sell mortgage, insurance and wealth books.