Mortgage lending recovers but banks remain ultra-cautious

Mortgage lending recovers but banks remain ultra-cautious
Jenny Ruth
Mortgage lending recovered in May after shrinking in April for the first time on record, but mortgage brokers say the banks are still taking an ultra-conservative stance on lending criteria. Reserve Bank data released late yesterday showed mortgage lending in May totalled $4.32 billion, up from $2.75 billion in April but still down from $6.18 billion in March. The May total is still the lowest level of lending, apart from April, since January 2019 when mortgage lending was $4.05 billion, and was well down on the $6.47 billion lent in May...

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