New LVR restrictions seem to be affecting mortgage demand already, with the Reserve Bank’s latest residential lending data showing a big dip in mortgage lending
Further OCR cuts are looming strongly on the horizon in the wake of the Reserve Bank’s speech yesterday, economists have said.
Skyrocketing house prices mean New Zealand banks are facing increased economic risks and will now have higher risk weights, a global ratings agency has said.
Lowering the OCR risks further fuelling house price growth but the Reserve Bank believes it has been a necessary trade-off to prevent a decline in inflation expectations.
The Reserve Bank’s new investor-targeted LVR rules come into effect on 1 October, but there are solutions to the restrictions for investors willing to think laterally.
Auckland woman, Eli Devoy, was sentenced to five years in prison in the Auckland District Court today for involvement in an extensive mortgage fraud scheme.