Mortgage arrears now at highest levels since March 2020

Mortgage arrears now at highest levels since March 2020
Arrears are now higher than before the covid pandemic. (Image: Bloomberg)
Brent Melville
Mortgage arrears rose to 1.32% last month, their highest level since March 2020, while late payments across all consumer loans were at 11.7%, ahead of pre-covid levels for the first time.Credit bureau Centrix said there were 19,500 mortgage accounts in the ‘late payment’ bracket, up more than a third on last June on the back of higher interest rates. Queenstown-Lakes borrowers remained as the most likely to be paying ‘interest only’ at 10.8% of mortgage holders, followed by Aucklanders at 8.25%. Their average o...

More Economy

Northland targets $60b regional economy by 2050
Primary Sector

Northland targets $60b regional economy by 2050

The bullish goal represents a six-fold increase over 2024 figures.

No sign 10% tariff will increase but uncertainty remains: Mfat
Economy

No sign 10% tariff will increase but uncertainty remains: Mfat

Ongoing uncertainty is of concern for New Zealand exporters, an Mfat spokesperson says.

‘Teflon Man’ Neil Quigley’s next big job
Finance Analysis

Pattrick Smellie: ‘Teflon Man’ Neil Quigley’s next big job

Is the RBNZ lining up a Canadian replacement for Adrian Orr?

Pattrick Smellie 23 Jul 2025
August rate cut still on the cards
Economy

August rate cut still on the cards

Annual inflation increased 2.7% in the 12 months to the June quarter. 

Rebecca Howard 21 Jul 2025