A major bank has increased the rate it uses to check potential borrowers can afford a loan. 

ANZ has upped its test rate to 9.1%. 

That's despite home loan rates sitting around 7% for a two-year fix.  

In past week ANZ and Westpac have raised interest rates.

Squirrel Mortgages Chief Executive David Cunningham told Mike Hosking the test rate doesn't make much of a difference. 

He says the good news for first home buyers is that compared to two years ago, because property prices are lower, they can still afford the same amount based on the test rate.

LISTEN ABOVE

A major bank has increased the rate it uses to check potential borrowers can afford a loan.  
ANZ has upped its test rate to 9.1%.  
That's despite home loan rates sitting around 7% for a two-year fix.   
In past week ANZ and Westpac have raised interest rates. 
Squirrel Mortgages Chief Executive David Cunningham told Mike Hosking the test rate doesn't make much of a difference.  
He says the good news for first home buyers is that compared to two years ago, because property prices are lower, they can still afford the same amount based on the test rate. 
LISTEN ABOVE

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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

David Cunningham: Squirrel Mortgages CEO on the increased test rates from ANZ

At the end of each week, Mike Hosking takes you through the big-ticket items and lets you know what he makes of it all. 

 

Tourism: 7/10 

This has been a good vibe week. TRENZ had them coming from everywhere, the sentiment is good, and the numbers are excellent. 

 

Kiwifruit: 9/10 

This story is starting to outshine dairy. Not in numbers, but in terms of growth. At almost $6 billion and booming, this is mana from vines. Add it to dairy and we are laughing. 

 

Chris Hipkins: 2/10 

This has been, far and away, his worst week of the year. Mystery policy detail and the arrogance to say we aren't interested in detail anyway. He is National's election year dream come true. 

 

Trump: 4/10 

We still don’t have a deal, but we do have a slush fund. He looks increasingly tawdry. But he's just as influential – just ask Thomas Massie. 

 

Newstalk ZB: 8/10 

Guess who’s popular? Ratings day yesterday was party day – the audience is up, and on some shows, up a lot. We thank you and appreciate you, as always, from the bottom of our hearts. 

 

LISTEN ABOVE FOR MIKE HOSKING'S FULL WEEK IN REVIEW 

At the end of each week, Mike Hosking takes you through the big-ticket items and lets you know what he makes of it all.&nbsp;
&nbsp;
Tourism: 7/10&nbsp;
This has been a good vibe week. TRENZ had them coming from everywhere, the sentiment is good, and the numbers are excellent.&nbsp;
&nbsp;
Kiwifruit: 9/10&nbsp;
This story is starting to outshine dairy. Not in numbers, but in terms of growth. At almost $6 billion and booming, this is mana from vines. Add it to dairy and we are laughing.&nbsp;
&nbsp;
Chris Hipkins: 2/10&nbsp;
This has been, far and away, his worst week of the year. Mystery policy detail and the arrogance to say we aren't interested in detail anyway. He is National's election year dream come true.&nbsp;
&nbsp;
Trump: 4/10&nbsp;
We still don’t have a deal, but we do have a slush fund. He looks increasingly tawdry. But he's just as influential – just ask Thomas Massie.&nbsp;
&nbsp;
Newstalk ZB: 8/10&nbsp;
Guess who’s popular? Ratings day yesterday was party day – the audience is up, and on some shows, up a lot. We thank you and appreciate you, as always, from the bottom of our hearts.&nbsp;
&nbsp;
LISTEN ABOVE FOR MIKE HOSKING'S FULL WEEK IN REVIEW&nbsp;

Mark the Week: This has been Chris Hipkins' worst week of the year

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/c1065b26-deac-47bb-ac65-b4510181fbbd/transcript

Another lesson for our Labour Party if they want to ponder it. 

Australia’s Labor have blown their Budget. 

It's hard to overstate the anger and pushback on their tax changes made now well over a week ago. 

Budgets and their news cycle tend to come and go. 

This was different. It was billed as generational. It was seen as transformational and it was seen as Albanese having to spend a decent chunk of political capital, given his tax treatment was based on a lie. 

He said in the election campaign of last year that he would not touch tax. 12 months on, he went back on his word. 

The twist being the blowback came, and it hasn’t stopped coming, and somewhere in the past few days the concern, followed fairly quickly by panic, started to set in at Government level. 

The anger has not been driven by rich, white, old coalition blokes whose myriad of investments would end up being taxed more. 

It's been driven by young Australians who buy shares to save for retirement. Young Australians who start businesses to set up a decent life for themselves and their families. People the Labor Government never saw coming. 

What it shows, and it's an encouraging sign and one I suspect is as relevant here as it is there, is that a decent chunk of our population are not the moaners you hear on the news. They're not the NGO's bleating about their lot. 

They're not the success haters that dominate the news cycle. Rather, they're middle-of-the-road Kiwis and Australians who are quite keen on working hard and getting ahead in life. 

All they have ever asked for is, to use the vernacular, is "a fair suck of the sav". 

You don’t tax success and that’s what Albanese has had a crack at. 

Why take a risk in starting a business if all there is at the end of it is Jim Chalmers and his tax department looking to extract ever larger amounts of your hard earned? 

That’s what Labour wants to do here. It's always about more tax. It's never about more success, or larger growth, or bigger pie. 

Got an issue? Short of dough? Tax someone. 

Well, middle Australia isn't interested and they have been out in force showing it. 

Maybe Albanese knew that. Maybe that’s why he lied to get into power so he could do what he's done. 

If that's true then Hipkins is in real trouble, because he hasn’t lied. He's told you it's coming. 

And if we are like Australia, it's not going to go down well. 

Another lesson for our Labour Party if they want to ponder it.&nbsp;
Australia’s Labor have blown their Budget.&nbsp;
It's hard to overstate the anger and pushback on their tax changes made now well over a week ago.&nbsp;
Budgets and their news cycle tend to come and go.&nbsp;
This was different. It was billed as generational. It was seen as transformational and it was seen as Albanese having to spend a decent chunk of political capital, given his tax treatment was based on a lie.&nbsp;
He said in the election campaign of last year that he would not touch tax. 12 months on, he went back on his word.&nbsp;
The twist being the blowback came, and it hasn’t stopped coming, and somewhere in the past few days the concern, followed fairly quickly by panic, started to set in at Government level.&nbsp;
The anger has not been driven by rich, white, old coalition blokes whose myriad of investments would end up being taxed more.&nbsp;
It's been driven by young Australians who buy shares to save for retirement. Young Australians who start businesses to set up a decent life for themselves and their families. People the Labor Government never saw coming.&nbsp;
What it shows, and it's an encouraging sign and one I suspect is as relevant here as it is there, is that a decent chunk of our population are not the moaners you hear on the news. They're not the NGO's bleating about their lot.&nbsp;
They're not the success haters that dominate the news cycle. Rather, they're middle-of-the-road Kiwis and Australians who are quite keen on working hard and getting ahead in life.&nbsp;
All they have ever asked for is, to use the vernacular, is "a fair suck of the sav".&nbsp;
You don’t tax success and that’s what Albanese has had a crack at.&nbsp;
Why take a risk in starting a business if all there is at the end of it is Jim Chalmers and his tax department looking to extract ever larger amounts of your hard earned?&nbsp;
That’s what Labour wants to do here. It's always about more tax. It's never about more success, or larger growth, or bigger pie.&nbsp;
Got an issue? Short of dough? Tax someone.&nbsp;
Well, middle Australia isn't interested and they have been out in force showing it.&nbsp;
Maybe Albanese knew that. Maybe that’s why he lied to get into power so he could do what he's done.&nbsp;
If that's true then Hipkins is in real trouble, because he hasn’t lied. He's told you it's coming.&nbsp;
And if we are like Australia, it's not going to go down well.&nbsp;

Mike's Minute: Aussie Labor have shown NZ Labour what not to do

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/3ab0a126-9e40-4b4f-943b-b451017c889f/transcript

Another week has come to an end, so Kate Hawkesby and Tim Wilson joined Mike Hosking to Wrap the Week that Was. 

They discussed ZB’s latest ratings, some parenting advice, and Kate being banned from making an Amazon account. 

LISTEN ABOVE 

Another week has come to an end, so Kate Hawkesby and Tim Wilson joined Mike Hosking to Wrap the Week that Was.&nbsp;
They discussed ZB’s latest ratings, some parenting advice, and Kate being banned from making an Amazon account.&nbsp;
LISTEN ABOVE&nbsp;

Wrapping the Week with Kate Hawkesby and Tim Wilson: ZB ratings, Kate being banned from Amazon, parenting advice

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/91f399d5-168d-4031-878a-b45101754b74/transcript

David Cunningham: Squirrel Mortgages CEO on the increased test rates from ANZ

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