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NZ: Fitch warns of dangers of housing market boom

Posted on 11 April 2013

International ratings agency, Fitch, is warning of the dangers a housing market boom may pose for New Zealand’s banks. While Fitch director Andrea Jaehne doesn’t fear a housing market crash, she is concerned a bubble is developing and that banks could be vulnerable because a growing number of their mortgage customers have low levels of equity in their houses.
About a third of new mortgages at the end of 2012 had loan to value (LVR) ratios above 80%………………………………………..Full Article: Source

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