Mortgage rates are continuing to fall, but it isn't getting any easier for many people to access bank loans. 

Latest figures from interest.co.nz show one-year mortgage rates have fallen to around 6.33%, down from about 7.35% in January. 

But banks have told our newsroom they're still testing applicants at between 8.5 and 8.7%. 

Loan Market Mortgage Advisor Bruce Patten told Mike Hosking that banks are being overly cautious at the moment. 

He said that it won’t be until inflation rates get back to normal that they’ll ease off on the caution. 

LISTEN ABOVE 

Mortgage rates are continuing to fall, but it isn't getting any easier for many people to access bank loans.&nbsp;
Latest figures from interest.co.nz show one-year mortgage rates have fallen to around 6.33%, down from about 7.35% in January.&nbsp;
But banks have told our newsroom they're still testing applicants at between 8.5 and 8.7%.&nbsp;
Loan Market Mortgage Advisor Bruce Patten told Mike Hosking that banks are being overly cautious at the moment.&nbsp;
He said that it won’t be until inflation rates get back to normal that they’ll ease off on the caution.&nbsp;
LISTEN ABOVE&nbsp;

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The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Bruce Patten: Loan Market Mortgage Advisor on the difficulty in accessing bank loans despite falling mortgage rates

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/e1142d47-741a-4dbd-84c2-b202015250f2/transcript

I was going to suggest we are petty, but I have been saved by the Brits. 

They are having a couple of debates over money. 

One is involving a woman called Sue Gray, who has quit, and the other is over the role of Cabinet Secretary, which is the country's top civil servant, a job which is currently vacant given the incumbent stepped down for health reasons. 

As it turned out, Sue Gray was earning more than the Prime Minister which, for reasons I'm not entirely sure about, needed to be turned into a scrap. 

There are plenty of civil servants here who earn more than the Prime Minister and we don’t seem to have a problem with it. But it appears we don't like it if the Prime Minister is a bit wealthy. 

But I'll come back to that. 

The Cabinet Secretary in Britain is paid $200,000 a year and a bloke called Lord Gus O'Donnell, who used to do it, is busy running a campaign arguing it's grossly underpaid. 

As for Ms Gray, she was on $170,000 a year while the Prime Minister is on $166,000. When this was revealed she became a distraction, so she quit. 

Ironically, she has a new job that no one seems to understand, which is one of the ironies of this whole jealousy driven nonsense. Would you rather a person in a high-performing role got more in a job you understand, or they get less in a job you have no idea just what it is they do? The fact they may or may not do anything is beside the point, right? 

Which brings us back to the current Prime Minister here, who because he sold a couple of rentals, is clearly far too wealthy so we need a good b*tch about that as well. 

The fact the National Party Prime Minister before him was a mile more wealthy again never really seemed to bother anyone, so maybe it’s the post Covid / Cost of Living angst that got so many so upset. 

If you want something to exercise yourself with, how about the Prime Minister who ran the country into the ground then scarpered to write a book and wander the speaking circuit, creaming it by making money from her ineptitude and our subsequent economic misfortune. 

What's worse? A civil servant working God-knows how many hours for $200,000, a Prime Minister on $484,000 but with a couple of properties he made money on, or a fly-by-nighter who came second in one election, locked us down for the second, buggered it up in record fashion and then fled to make a fortune telling people how kind she is. 

Some people and jobs are worth the money. Some aren't. 

But jealousy is a wasted emotion. 

I was going to suggest we are petty, but I have been saved by the Brits.&nbsp;
They are having a couple of debates over money.&nbsp;
One is involving a woman called Sue Gray, who has quit, and the other is over the role of Cabinet Secretary, which is the country's top civil servant, a job which is currently vacant given the incumbent stepped down for health reasons.&nbsp;
As it turned out, Sue Gray was earning more than the Prime Minister which, for reasons I'm not entirely sure about, needed to be turned into a scrap.&nbsp;
There are plenty of civil servants here who earn more than the Prime Minister and we don’t seem to have a problem with it. But it appears we don't like it if the Prime Minister is a bit wealthy.&nbsp;
But I'll come back to that.&nbsp;
The Cabinet Secretary in Britain is paid $200,000 a year and a bloke called Lord Gus O'Donnell, who used to do it, is busy running a campaign arguing it's grossly underpaid.&nbsp;
As for Ms Gray, she was on $170,000 a year while the Prime Minister is on $166,000. When this was revealed she became a distraction, so she quit.&nbsp;
Ironically, she has a new job that no one seems to understand, which is one of the ironies of this whole jealousy driven nonsense. Would you rather a person in a high-performing role got more in a job you understand, or they get less in a job you have no idea just what it is they do? The fact they may or may not do anything is beside the point, right?&nbsp;
Which brings us back to the current Prime Minister here, who because he sold a couple of rentals, is clearly far too wealthy so we need a good b*tch about that as well.&nbsp;
The fact the National Party Prime Minister before him was a mile more wealthy again never really seemed to bother anyone, so maybe it’s the post Covid / Cost of Living angst that got so many so upset.&nbsp;
If you want something to exercise yourself with, how about the Prime Minister who ran the country into the ground then scarpered to write a book and wander the speaking circuit, creaming it by making money from her ineptitude and our subsequent economic misfortune.&nbsp;
What's worse? A civil servant working God-knows how many hours for $200,000, a Prime Minister on $484,000 but with a couple of properties he made money on, or a fly-by-nighter who came second in one election, locked us down for the second, buggered it up in record fashion and then fled to make a fortune telling people how kind she is.&nbsp;
Some people and jobs are worth the money. Some aren't.&nbsp;
But jealousy is a wasted emotion.&nbsp;

Mike's Minute: We will never not be jealous of people with money

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/f91bc30a-607a-4500-8fcd-b2020166b47e/transcript

The UK Prime Minister’s chief of staff has quit her role, saying she “risked becoming a distraction”. 

Sue Gray was caught up in a conflict over pay, after the BBC revealed that her salary was higher than Prime Minister Sir Kier Starmer’s.  

UK Correspondent Rod Liddle told Mike Hosking that this is quite a remarkable decision.  

He said that in the last six to eight months, Starmer hasn’t sacked anyone despite there being calls. 

Liddle says the howl within his own camp had become so grave that he could do nothing other than accept the resignation. 

LISTEN ABOVE 

The UK Prime Minister’s chief of staff has quit her role, saying she “risked becoming a distraction”.&nbsp;
Sue Gray was caught up in a conflict over pay, after the BBC revealed that her salary was higher than Prime Minister Sir Kier Starmer’s. &nbsp;
UK Correspondent Rod Liddle told Mike Hosking that this is quite a remarkable decision. &nbsp;
He said that in the last six to eight months, Starmer hasn’t sacked anyone despite there being calls.&nbsp;
Liddle says the howl within his own camp had become so grave that he could do nothing other than accept the resignation.&nbsp;
LISTEN ABOVE&nbsp;

Rod Liddle: UK Correspondent on the pay drama surrounding the former Chief of Staff Sue Gray

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/bb1d7f39-f139-42ed-b42b-b20201648d01/transcript

The rubber has hit the road in the US Election.  

Just one month out from voting, the debates have been wrapped up and the only thing left is for the candidates to continue campaigning.  

It’s a tight race, with Kamala Harris maintaining a narrow lead in key battleground states. 

Former US Correspondent Nick Bryant told Mike Hosking that Harris has turned out to be a better candidate than many expected. 

He said that while there has been some mixed messaging and Harris has some weaknesses, she is a strong candidate. 

Trump is also struggling with messaging, Bryant says. 

The former President doesn’t seem to be as strong a candidate as he was in 2016, and he’s not as sharp or articulate as he used to be. 

LISTEN ABOVE 

The rubber has hit the road in the US Election. &nbsp;
Just one month out from voting, the debates have been wrapped up and the only thing left is for the candidates to continue campaigning. &nbsp;
It’s a tight race, with Kamala Harris maintaining a narrow lead in key battleground states.&nbsp;
Former US Correspondent Nick Bryant told Mike Hosking that Harris has turned out to be a better candidate than many expected.&nbsp;
He said that while there has been some mixed messaging and Harris has some weaknesses, she is a strong candidate.&nbsp;
Trump is also struggling with messaging, Bryant says.&nbsp;
The former President doesn’t seem to be as strong a candidate as he was in 2016, and he’s not as sharp or articulate as he used to be.&nbsp;
LISTEN ABOVE&nbsp;

Nick Bryant: Former US Correspondent on the latest in the US Election campaign

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/dbcd13bb-9bec-4476-8c4e-b202015c3f29/transcript

Bruce Patten: Loan Market Mortgage Advisor on the difficulty in accessing bank loans despite falling mortgage rates

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