{
  "id": 197038,
  "title": "Mortgage lending growth stalls",
  "url": "https://urgent.news/2026/08/06/mortgage-lending-growth-stalls",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-06T00:11:35.000Z",
  "source": {
    "name": "RNZ Business",
    "slug": "rnz-business",
    "url": "https://www.rnz.co.nz/news/business/903432/mortgage-lending-growth-stalls"
  },
  "original_language": "en",
  "account": "Mortgage lending activity slowed to near-zero growth in May and June, marking the lowest point in three years, according to Cotality's findings. In June specifically, there were roughly $5 billion in house purchases, $1 billion in home loan top-ups, and about $2 billion in bank switching. Property economist Kelvin Davidson noted that housing market activity had increased since 2022 and 2023, settling into a more consistent rhythm. He suggested that the market had returned to a more stable level, but growth had slowed following years of positive growth.\n\nInvestors were reportedly cautious, potentially due to rising mortgage rates, economic uncertainty, and concerns about the election. However, there were challenges for investors as well, including subdued rents, higher costs, and concerns about the election. Interest-only lending was at its lowest level in over a decade, making up 14% of new loans to owner-occupiers and 28% of new loans for investors, which accounted for 70% of all low-deposit lending in June.\n\nThe increase in unemployment has not led to people struggling with their loans; only 0.6% of loans are classified as non-performing. The job market's impact seems to be more about a larger labor supply than job losses. Those with mortgages have largely maintained their employment. Banks have implemented stricter serviceability testing, which has stopped potentially risky loans from progressing. Only about 10% of lending had high debt-to-income ratios, well below the 20% limit.",
  "summary": "Growth in mortgage lending was near zero in May and June, Cotality says, and the lowest in three years.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}