Larry Williams Drive

Elevated interest rates have encouraged mortgage holders to switch banks at a record rate. The value of mortgages refinanced by a new bank climbed to $1.75 billion in July – the largest amount since at least 2017, when the Reserve Bank started publishing this data. NZ Herald Wellington business editor Jenee Tibshraeny unpacks the market factors encouraging homeowners to bank-hop.  LISTEN ABOVESee omnystudio.com/listener for privacy information.