Bank switching surged in December, as those with mortgages appear to have shopped around for cheaper debt at a record rate.

Just over $2 billion of mortgage debt changed hands between banks and non-banks during the month - a record amount since at least 2017 when Reserve Bank records began.

NZ Herald Wellington business editor Jenee Tibshraeny explains further.

LISTEN ABOVE

Bank switching surged in December, as those with mortgages appear to have shopped around for cheaper debt at a record rate.
Just over $2 billion of mortgage debt changed hands between banks and non-banks during the month - a record amount since at least 2017 when Reserve Bank records began.
NZ Herald Wellington business editor Jenee Tibshraeny explains further.
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 rise in people shopping around for better mortgage rates

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/5dcdb5b3-5693-498f-8514-b274007ebd11/transcript