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

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