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.

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