(EMBARGOED NOON, NOT TO BE USED BY WEBSITES ETC BEFORE THAT TIME) Wellington, July 18 NZPA - There was a sharp improvement in home affordability in June thanks to falling house prices and interest rates, according to the Wizard Home Loans Affordability report out today.
Wellington, July 16 NZPA - Loan defaults are up sharply and new loan applications are down, according to credit information company Veda Advantage.
Wellington, July 11 NZPA - The sharemarket slid to a fresh three-year low today not long after the release of further evidence that the housing market is in decline.
Auckland, July 9 NZPA - A man convicted for his role in a $7 million housing scam has been told if he pays $50,000 towards reparation by the time he is sentenced, it will reduce the time he will spend on home detention.
Wellington, July 8 NZPA - A major indicator of business sentiment is pointing to two more quarters of economic decline, following the 0.3 percent fall in Gross Domestic Product in the March quarter.
Wellington, July 7 NZPA - A quarterly survey of New Zealand major banks shows a good performance in the last three months of 2007, but profit dropping.
The National Party is warning that a re-write of monetary policy would lead to higher inflation and push interest rates even higher.
Wellington, July 4 NZPA - The National Party is warning that a re-write of monetary policy would lead to higher inflation and push interest rates even higher.
Wellington, July 3 NZPA - Kiwibank has cut around a quarter of a percentage point off its three-year fixed rate mortgage, as it looks to cash in on home owners refixing loans coming due for renewal.
Wellington, July 3 NZPA - Kiwibank has reduced home loan interest rates, bringing most fixed rates below 9 percent a year. The key three-year rate was down to 8.79 percent, which Kiwibank said was significantly below competitor banks.
Wellington, July 2 NZPA - A hungry baby's early morning cries have been credited with saving the home of a New Plymouth family. When Laura Greenhow, 21, responded to nine-month-old Aliana's cries at 5am, she heard popping and saw flames coming from the garage of their Omata Rd home.
Wellington, July 1 NZPA - Stricken NZAX-listed Propertyfinance group (PFG) today reported a $6.7 million loss for the March year, twice as bad as it reported in a preliminary report in April.
By Simon Louisson of NZPA Wellington, June 20 NZPA - It seemed like a worse week than it actually was. Each day this week the NZSX-50 gross index fell and it sank to its lowest level in 28 months. However, the percentage fall for the week was only just over 3 percent.
By Maggie Tait of NZPA Wellington, June 18 NZPA - Social Development Minister Ruth Dyson today said the Government was looking at a mandatory code of practice, to protect the elderly, for those offering reverse mortgages.
Wellington, June 17 NZPA - The sharemarket top 50 benchmark index today fell to its lowest level since March 2006. The NZSE-50 fell to 3395.858 at 10.44am today, marginally beating the previous year low of 3395.859 set on March 27. The index was down 10.439 points today.
Wellington, June 15 NZPA - The New Zealander who became known as the "Elephant Man" due to the violent reaction he had in a drugs trial, has become a father.
Wellington, June 12 NZPA - A fall in mortgage rates which started with last week's Reserve Bank statement has now seen a widespread move by banks to lower rates. A standard two-year fixed rate of 9.2 percent is now common.
Wellington, June 10 NZPA - A small rise in mortgage application figures released by credit information provider Veda Advantage is being viewed as a "hint" of some stability in the housing market.
Wellington, June 9 NZPA - Retailer Postie Plus Group is reporting a 7.5 percent fall in third quarter sales to $29.5 million. That took sales for the nine months to the end of April to $95.3m, down 1.75 percent from $97m in the corresponding period a year earlier.
Wellington, June 6 NZPA - The spy scandal that engulf ed senior civil servant Bill Sutch had its final chapter today with the release of his Security Intelligence Service (SIS) file which vindicates him and provides relief for his family.
Wellington, June 5 NZPA - Westpac and ASB Bank cut fixed home lending rates today after the Reserve Bank signalled an interest rate cut by the end of the year.
By Simon Louisson of NZPA Wellington, June 5 NZPA - Reserve Bank (RB) governor Alan Bollard threw borrowers an interest rate lifeline today in the face of a rapidly sinking economy and inflation soaring to 4.7 percent.
By Simon Louisson of NZPA Wellington, June 5 NZPA - The Reserve Bank today said it expects the annual inflation rate to leap to 4.7 percent this year, the highest level in 18 years, but bank governor Alan Bollard still signalled a cut in interest rates.
Wellington, June 5 NZPA - A sharp decline in jobs and retail sales in the March quarter were insufficient to persuade Reserve Bank Governor Alan Bollard to cut interest rates today.
Wellington, June 4 NZPA - Personal and corporate income tax cuts are a good use of the budget surplus to counter economic slowdown, according to the latest OECD report on the New Zealand economy.
Wellington, June 3 NZPA - Prime Minister Helen Clark says opinion polls won't show the true level of the Government's support until the National Party reveals its policies and says how it will pay for them.
Wellington, May 30 NZPA - Lombard Group sank to a $21.8 million annual net loss after directors decided to write down its Lombard Finance and Investments Ltd business, which was placed in receivership in April.
Wellington, May 28 NZPA - Mortgage rate rises are costing families in Nelson an extra $50 million a year, Parliament was told today.
Wellington, May 27 NZPA - ANZ National Bank is increasing its short-term fixed mortgage lending rates tomorrow, but cutting some longer-term rates by 15 basis points. The owner of the ANZ and National Bank is also increasing deposit rates by up to 50 basis points.
Wellington, May 27 NZPA - Business confidence remains low in May, depressed by slowing economic growth and rising costs, the National Bank said.
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