New Zealand sees signs of easing household financial hardship as mortgage struggles decline.

New Zealand's household financial hardship may be peaking, according to credit bureau Centrix. Centrix's Keith McLaughlin noted a decrease in mortgage payment struggles, suggesting a decline in financial hardship as interest rates fall. Lenders are now more flexible with borrowers, avoiding mortgagee sales. Essentials like power bills and mortgages are where most people are falling behind, but McLaughlin sees early signs of improvement in household finances.

November 10, 2024
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