Higher interest rates, loan restrictions rein in house prices, RBNZ says

Wed, 10 Sep 2014

By Paul McBeth Sept. 11 (BusinessDesk) - The Reserve Bank's moves to hike interest rates and impose restrictions on low-equity home loans has helped slow the pace of house price increases, the central bank says. House price inflation has dropped to an annual pace of 6 percent from a peak of 10 percent in September last year, reflecting the central bank's four interest rate increases and the imposition of restrictions on high loan-to-value ratio mortgage lending, the bank said in in its September monetary policy statement. Rapid increas...

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