Credit bureau Equifax has released its latest New Zealand consumer credit demand insights report, for November.
Equifax says the key features of the report are;
- Consumer Credit demand continues to strengthen in all portfolios.
- Of all portfolios, mortgage demand remains the strongest - well up on pre-COVID levels.
- Commercial credit demand is consistently back at 2019 levels.
- Overall repayment history arrears remain well down on pre-COVID levels.
- Credit card arrears have increased for the first time since May 2020. There is a slight increase in repayment arrears 30 days past due.
- Mortgage payment deferrals are down compared with the prior month, now less than 4% of total accounts.
- 96% of all accounts previously in mortgage deferral are up to date.