Fewer Kiwis behind on repayments as more take 'cautious' approach to loans
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New Zealanders' credit performance continues to improve, with outstanding repayments falling to their lowest level in five years.
The latest Centrix Credit Indicator report shows consumer arrears levels are now 13.9% lower year on year.
There are still 84 thousand people whose payments are 90 or more days overdue.
Chief Operating Officer Monika Lacey told Mike Hosking consumers are being a little more cautious in their approaches.
She says essential services such as mortgages and auto loans are still strong, but the more discretionary-type lending services are a bit softer.
Lacey believes there could be a seasonal impact, but it’s likely more a result of what’s happening with the economy.
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