The news isn't all bad for prospective first home buyers.

The Reserve Bank has confirmed major changes to mortgage rules from July, which will prevent most owner-occupiers from borrowing more than six times their pre-tax income.

It's also signalling it will keep the Official Cash Rate unchanged at 5.5% for the rest of the year.

Key Mortgages broker Jeremy Andrews told Mike Hosking that at the same time, the Reserve Bank is loosening LVR restrictions to allow for more low-deposit lending.

He says the changes could actually help many first home buyers.

LISTEN ABOVE

The news isn't all bad for prospective first home buyers. 
The Reserve Bank has confirmed major changes to mortgage rules from July, which will prevent most owner-occupiers from borrowing more than six times their pre-tax income. 
It's also signalling it will keep the Official Cash Rate unchanged at 5.5% for the rest of the year. 
Key Mortgages broker Jeremy Andrews told Mike Hosking that at the same time, the Reserve Bank is loosening LVR restrictions to allow for more low-deposit lending. 
He says the changes could actually help many first home buyers. 
LISTEN ABOVE

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, 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,...