The Reserve Bank of New Zealand’s latest mortgage data shows that buyer demand continues to plummet following aggressive interest rate hikes that have pushed key mortgage rates to between 5% and 6.5%: The value of mortgage commitments fell 29% in the year to May 2022, according to the RBNZ. This represents a sharp reversal from
The post Collapsing mortgage demand hammers New Zealand house prices appeared first on MacroBusiness.
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