The construction sector has welcomed the Reserve Bank's decision to exempt new home builds from low deposit loan restrictions, but one economist has warned of the dangers of watering down the policy.

Reserve Bank home-loan cooling measures have driven business into mortgage brokers' hands, says Jeff Royle.

Rules slash number of low-deposit mortgages but house buyers still encouraged to ask.

Westpac has today split its mortgage rates depending on whether the borrower has more or less than 20 per cent equity.

Auckland house prices rose at the rate of $677 a day in November, based on the average price increase from October to November.

Kiwis keen to sell off their homes continue to hold the upper hand in New Zealand's property market, despite a slight ease in the national asking price during November.

A sickness beneficiary who had more than $170,000 transferred into his bank account in error withdrew the money and spent the lot on Holdens.

Travel guide publisher Jasons Travel Media, once led by MP Steven Joyce, has told its lenders to appoint a receiver as the company's financial position deteriorates.

Competition is heating up in the $5.6b credit card market, with two major banks releasing new offers in the past week.

The construction industry has grown by 10,000 firms since 2002, a new Government report shows, but still lacks capacity to deal with current massive demand.

The boss of ANZ - the country's largest bank - received a pay rise of almost 14 per cent for the 2013 financial year, pushing his remuneration package over $4 million.