No borrower rush to beat RBNZ loan restrictions - yet

There has been no rush to beat the Reserve Bank’s restrictions on low deposit borrowing for housing.

The latest Reserve Bank home loan approval data confirms the trend seen since mid-July – a steady slide in both the value and volume of new home loan approvals by banks when compared to a year ago.

Reserve Bank governor Graeme Wheeler announced the much anticipated restrictions on high loan to value mortgages on August 21, saying they would take effect from the start of October.

 

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