Elevated interest rates have encouraged mortgage holders to switch banks at a record rate.

The value of mortgages refinanced by a new bank climbed to $1.75 billion in July – the largest amount since at least 2017, when the Reserve Bank started publishing this data.

NZ Herald Wellington business editor Jenee Tibshraeny unpacks the market factors encouraging homeowners to bank-hop. 

LISTEN ABOVE

Elevated interest rates have encouraged mortgage holders to switch banks at a record rate.
The value of mortgages refinanced by a new bank climbed to $1.75 billion in July – the largest amount since at least 2017, when the Reserve Bank started publishing this data.
NZ Herald Wellington business editor Jenee Tibshraeny unpacks the market factors encouraging homeowners to bank-hop. 
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Jenee Tibshraeny: NZ Herald Wellington business editor on the uptick in mortgage holders switching banks

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/ef16a57e-6c38-4460-aa61-b1da00834e6b/transcript

The pressure on Sir Keir Starmer keeps ramping up in the UK.

Labour had a disastrous showing in local elections at the end of last week - a reflection of the Prime Minister's growing unpopularity.

The party lost a total 1500 councillors across England, with Nigel Farage's Reform UK party picking up steam.

UK correspondent Gavin Grey says Starmer is set to give a speech addressing the situation, but there's growing calls to replace him as party leader. 

LISTEN ABOVE

The pressure on Sir Keir Starmer keeps ramping up in the UK.
Labour had a disastrous showing in local elections at the end of last week - a reflection of the Prime Minister's growing unpopularity.
The party lost a total 1500 councillors across England, with Nigel Farage's Reform UK party picking up steam.
UK correspondent Gavin Grey says Starmer is set to give a speech addressing the situation, but there's growing calls to replace him as party leader.&nbsp;
LISTEN ABOVE

Gavin Grey: UK correspondent on Labour's poor showing at the local elections

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/46da396f-5227-406e-9e37-b4470088a85d/transcript

The Green Party's written to Government ministers asking them to use their majority owner status to pressure major gentailers to reduce power prices.

Co-leader Chlöe Swarbrick says shareholding ministers, Simeon Brown and Nicola Willis, can write to the gentailers and require them to do more on energy hardship programmes. 

She suggests they could also call for retail prices not to surpass inflation.

Energy economist Geoff Bertram says it's time action was taken to bring down the impact of the major gentailers.

LISTEN ABOVE

The Green Party's written to Government ministers asking them to use their majority owner status to pressure major gentailers to reduce power prices.
Co-leader Chlöe Swarbrick says shareholding ministers, Simeon Brown and Nicola Willis, can write to the gentailers and require them to do more on energy hardship programmes.&nbsp;
She suggests they could also call for retail prices not to surpass inflation.
Energy economist Geoff Bertram says it's time action was taken to bring down the impact of the major gentailers.
LISTEN ABOVE

Geoff Bertram: energy economist on the Greens calling for the Government to bring down power prices

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/14d40bf5-369f-4b05-ad20-b44700876ba1/transcript

Oil prices have jumped more than three percent on the back of another snag in negotiations between the US and Iran. 

Donald Trump has taken to social media to call Iran's response to a US 14-point memorandum 'totally unacceptable'. 

Brent crude is now trading at more than 104 US dollars a barrel. 

Harbour Asset Management's Shane Solly explained further.

LISTEN ABOVE

Oil prices have jumped more than three percent on the back of another snag in negotiations between the US and Iran.&nbsp;
Donald Trump has taken to social media to call Iran's response to a US 14-point memorandum 'totally unacceptable'.&nbsp;
Brent crude is now trading at more than 104 US dollars a barrel.&nbsp;
Harbour Asset Management's Shane Solly explained further.
LISTEN ABOVE

Shane Solly: Harbour Asset Management expert on the market reactions to the 'no deal' announcement on the Middle East conflict

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/c8268336-8ca6-4a5d-950b-b4470085e90b/transcript

Jenee Tibshraeny: NZ Herald Wellington business editor on the uptick in mortgage holders switching banks

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