Demand for consumer credit rose 9.4 percent last month.
Photo: RNZ
Demand for consumer credit rose 9.4 percent last month, reflecting an increase in the number of mortgage applications and an elevated number of personal loans.
Credit research firm Centrix’s January Credit Indicator showed the increased demand for credit was somewhat offset by mixed number of credit arrears, and rising business liquidations.
“Arrears on the consumer side continue to follow the seasonal patterns. But that’s 0.8 percent down on last year. So that’s a really good sign that the tides are starting to turn, which is fantastic,” Centrix chief operating officer Monika Lacey said.
New household lending also rose in the December quarter, with lending…