Finance

Banks predict falling mortgage demand

Jenny Ruth
Wed, 27 Oct 2021

Banks predict falling mortgage demand
Banks expect future increases in interest rates and further tightening of loan-to-value ratio restrictions to have a dampening effect on overall demand. (Image: Deposit Photos)
Jenny Ruth
Wed, 27 Oct 2021
Banks expect credit availability for home loans to contract significantly in the next six months but there will be much more credit demand from farmers and larger corporates.This is one of the findings of the Reserve Bank's latest survey of 12 banks, including all five of the largest banks, aimed at measuring demand and availability of credit."Banks acknowledged that better-than-expected economic conditions following the initial covid-19 outbreak have supported credit demand and contributed to greater credit availability across some se...

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