Top of the news today is not rate changes, but winning mortgage brokers. The NZ Mortgage Brokers Association has handed out its gongs for the year recognising brokers who are at the top of their game. You can see all the winners including the top regional brokers in our story here.
The other bit of news which has got the mortgage industry talking is a decision by BNZ to get rid of all its mobile mortgage managers. So far we have had little luck getting information out of the bank on this one. It appears they are cutting back on their home loan lending at the moment. Instead of relying on mobile managers to hunt out new business it looks like the bank will do its lending through the less aggressive branch staff. (Don't forget BNZ doesn't use independent brokers anymore). If you have any news or information on what is happening drop us a line at editor@goodreturns.co.nz.
With rates it is unlikely we will see longer term home loan rates come down soon as two banks yesterday made big increases to their three, four and five year term deposit rates. Details are here.
