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Kelvin Davidson: Cotality Chief Property Economist on the rising number of mortgage holders swapping loan providers

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Manage episode 497280444 series 2098280
Content provided by NZME and Newstalk ZB. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by NZME and Newstalk ZB or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Those with mortgages are bank-hopping at record rates, but not necessarily to get lower interest rates.

More than 3,500 holders switched nearly two and a half billion dollars of debt between loan providers last month.

It's the highest since records began in 2017.

Cotality Chief Property Economist Kelvin Davidson says it reflects a mix of factors including short term loans, minimal or no break fees, and cash-back incentives.

He told Ryan Bridge it’s reasonably common to get 0.7-0.8% of the loan value as a cashback, up to certain caps, so it would make sense for people who are potentially under cashflow stress.

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See omnystudio.com/listener for privacy information.

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4318 episodes

Artwork
iconShare
 
Manage episode 497280444 series 2098280
Content provided by NZME and Newstalk ZB. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by NZME and Newstalk ZB or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Those with mortgages are bank-hopping at record rates, but not necessarily to get lower interest rates.

More than 3,500 holders switched nearly two and a half billion dollars of debt between loan providers last month.

It's the highest since records began in 2017.

Cotality Chief Property Economist Kelvin Davidson says it reflects a mix of factors including short term loans, minimal or no break fees, and cash-back incentives.

He told Ryan Bridge it’s reasonably common to get 0.7-0.8% of the loan value as a cashback, up to certain caps, so it would make sense for people who are potentially under cashflow stress.

LISTEN ABOVE

See omnystudio.com/listener for privacy information.

  continue reading

4318 episodes

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