Mortgagee sales remain low despite falling house prices and rising interest rates
Mortgagee sales have not spiked as house prices fall and interest rates rise, defying expectations from the 2009 financial crisis.
House prices have fallen and interest rates are rising again, yet mortgagee sales remain significantly lower than during 2009. Experts note that falling house prices do not automatically lead to mortgage defaults. Homeowners appear to be holding on to their properties despite challenging conditions.
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Coverage across the news outlets we track, as at publication.
What outlets are saying
RNZ
Homeowners holding on: Why aren't there more mortgagee sales?
House prices have fallen and interest rates are rising again but mortgagee sales are well down on 2009.
RNZ
Why there aren't more mortgagee sales as prices fall and interest rates rise
House prices have fallen and interest rates are rising again but mortgagee sales are well down on 2009.
1News
NZ homeowners hold on: Why aren't there more mortgagee sales?
People sometimes had a misconception that falling house prices meant defaults, a credit ratings expert says.
Stuff
Why there aren't more mortgagee sales as prices fall and interest rates rise
House prices have fallen and interest rates are rising again but mortgagee sales are well down on 2009.