New RBNZ figures show mortgage borrowing growing at its slowest annual rate in well over a year; non-bank mortgage borrowing is starting to surge, however

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By David Hargreaves

The growth in mortgage borrowing is growing at its slowest annualised rate in well over a year, according to the latest Reserve Bank figures monitoring sector credit.

The figures show that borrowing for housing grew by 7.7% in the 12 months to June, down from an annualised rate of 8% as of May 2017.

This continued slow down in the rate of borrowing growth will…….

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