Feature article
The $14.1 billion lending spike: Did you grab a cash-back?
December smashed records as Kiwi scrambled to switch banks.
AI summary
December saw a record $14.1 billion in mortgage lending, driven by a massive refinancing rush.
Bank switching accounted for $5.8 billion of this total, more than double the previous high. The main driver was large cash-back incentives, which banks ramped up to 1.5% of the loan value. The data suggests it was mainly financially 'safe' borrowers taking advantage of the situation.
While the biggest cash-back offers have since been reduced, switching may still be worthwhile for some homeowners.
The "Refi" Rush
Who was making the move?
Is the party over?
Author
Discover More
Townhouses deserve a better press. Here's the evidence.
Seven townhouses for sale on Trade Me Property show there's more to the category than you expect.
‘We wanted to show off’: He built his own Lockwood home to prove what it could do
Former Lockwood boss Joe La Grouw’s 648sqm Rotorua home, built to showcase the company’s designs, is now on the market.
Search
Other articles you might like
