This is the highest since February 2020, back in the initial uncertainty of covid times... Only the economic landscape is quite different.
KiwiSaver: Middle-income claims are not a good sign...
Coming off a year of interest rate rises and increasingly painful living costs, the amount being withdrawn from KiwiSaver funds to cover financial hardship has sharply increased.
Inflation, the Rising Tide
When the Earth, moon, and sun are just so, you get a king tide – which can be a very real issue for those dwelling along the coast. With the rapid swell of inflation, we can see a similar effect.
Is Mortgage Shock Setting In?
It’s the moment many will have been nervously anticipating since rates started to rise in June last year – those who choose the cheapest rate on offer, which happened to be a 12 month term, will be refixing their terms.
The rising cost of living
A report by the New Zealand Initiative states households are spending an extra $3000 or more a year on essentials, with a third of the increase being due to higher transport costs.
For Want of a Nail
Complaints about lending have increased with banks leery of the risk and opting to take a harsh line instead – leading to reports of people being turned down for mortgages because they were buying drinks at the dairy, spending money at Kmart, or because of pregnancy.
Are Concerns About Inflation Inflated?
Okay, the annual inflation is now running at 3.3%. In the June 2021 quarter compared with the March 2021 quarter, the New Zealand Consumer Price Index (CPI) rose 1.3%. A much stronger lift than the market expectations. So what does it mean to us?
