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News, Page 9

First-home buyers spend nearly half pay on mortgage

Mortgage payments for Auckland's most affordable homes are costing first-time buyers nearly half their take-home pay each week, a new report shows.The AMP360 Home Loan Affordability report, released yesterday, identified young couples,…

mortgage loans down 25%

mortgage loans drawn down in February decreased 24.8% month-on-month to $16 billion, the Monetary Authority announced today. mortgage loans approved decreased 12.1% to $26.7 billion. Among these, mortgage loans for primary market transactions dropped 24.2% to $6 billion, and those for secondary market transactions fell 10.9% to $15.9 billion. mortgage loans for refinancing rose 3.7% to $4.8 …

How High Can Mortgage Rates Go?

By Mr. Propwise Home buyers with loans pegged to the Singapore Interbank Offered Rate (SIBOR) have recently had some unpleasant experiences with their ballooning mortgage repayments. First, we saw the three-month SIBOR rise above 1 per cent for the first time in six years. This means all loans pegged to it will start to re-price