There has been a mixture of changes in credit demand since the COVID-19 lockdowns, according to a report by information services company Equifax NZ. It shows:
- consumer credit demand continues to strengthen in all portfolios
- mortgage demand remains strongest, well up on pre-COVID levels
- commercial credit demand is consistently back at 2019 levels
- overall RHI Arrears remain well down on pre-COVID levels
- credit card arrears have increased for the first time since May
- mortgage payment deferrals are down compared with the prior month, now less than 4% of total accounts
- 96% of accounts previously in mortgage deferral are up to date
