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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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,...

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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

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