Reserve Bank drops hammer on highly leveraged mortgage borrowers - MacroBusiness
4/26/2022 12:00:00 AM3 yearsago
by Unconventional Economist
by Unconventional Economist
In 2021, as New Zealand dwelling values rocketed by around 30%. One of the key drivers of this extreme price growth was that one-third of mortgage borrowers in 2021 borrowed at an extreme debt-to-income (DTI) ratio of six or more, equating to around $32.6 bil…
In 2021, as New Zealand dwelling values rocketed by around 30%. One of the key drivers of this extreme price growth was that one-third of mortgage borrowers in 2021 borrowed at an extreme debt-to-in… [+2547 chars]
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