Mortgage Approvals Jump

Mortgage approvals by volume hit highest level in nearly 2 years and highest level by value since April 2009

November 30, 2011 – 04:04pm, Gareth Vaughan

Residential mortgage approvals by value rose in value to near the NZ$1 billion mark last week, their highest level since April 2009, according to Reserve Bank data.

The central bank’s latest mortgage approvals figures show NZ$966 million worth were approved in the week to Friday, November 25. That’s the highest weekly value approved since NZ$1.346 billion in the week ended April 3, 2009.

By volume, at 6,112, last week saw the highest number of approvals since 6,878 in the week to December 18, 2009

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