Business · NZ ·
New residential mortgage lending falls in August
Interest.co.nz · Business
Published · Updated
- Banks approved $7.188 billion in new residential mortgages in August, down 8.5% from July.
- August mortgage approvals fell 4.9% compared to August last year.
- When mortgage switching is excluded, August approvals were $5.381 billion, down 3.7% from prior year.
- New mortgage approvals show annual declines in both mortgage top-ups and property purchase mortgages.
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