RBNZ will further tighten mortgage lending

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By Stephen Wright

WELLINGTON, New Zealand – The Central Bank of New Zealand said it plans to further tighten residential mortgage lending as the previous restrictions did not significantly reduce risky loans.

The Reserve Bank of New Zealand said it would limit lower deposit mortgages to 10% on new loans, up from the current 20% for owner-tenants.

It says that the changes will be made from October 1 after consultation.

Email Stephen Wright at stephen.wright@wsj.com

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