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Ditch home loan restrictions: Labour
Labour is promising to dump the Reserve Bank's new home loan restrictions - for first home buyers only.
Labour is promising to dump the Reserve Bank's new home loan restrictions - for first home buyers only.
Researchers at Westpac have painted a bright future for the tourism sector.
Fonterra has once again raised its farmgate milk price for the 2013-14 season, this time by 50c to a record $8.30 per kg of milk solids.
Finance Minister Bill English says ASB Bank has "let down" customers by cancelling home loan approvals as a result of new lending restrictions.
ASB Bank has pulled the plug on existing pre-approvals for low-equity home loans from October 4 but rival banks say they will continue to honour their pre-approvals.
ASB Bank has cancelled all pre-approvals for home loans over the 80 per cent loan to value ratio with effect from October 4.
Low-deposit mortgages will not only be harder to get from the end of this month, but they will be a lot more expensive.
Banks have already started tightening up their lending criteria for customers seeking low-deposit mortgages, despite new regulations not kicking in until next month.
New figures show national property prices were up $5,000 in August, taking the national median price to $390,000.
Bond markets have undergone a sea change during the last few months, say fixed interest specialists.
I love nostalgia. Everything seems better viewed through the prism of the past. Big events certainly seem less terrifying.
There's been a big jump in the number of younger people trying to get mortgages ahead of new Reserve Bank low-deposit lending rules, says credit agency Veda.
The case for higher interest rates gained more weight today after subtle shifts in the Reserve Bank's language were interpreted as being more hawkish.
The NZIER shadow board believes the Reserve Bank should leave the official cash rate on hold at 2.5 per cent when it reviews it tomorrow, but with a rise as the next best option.
Australian job advertisements are almost at their lowest point since the global financial crisis.