New mortgage commitments in New Zealand fell by 7% to $7.9 billion in July, the lowest monthly total since February, according to the Reserve Bank.
This marks a 13.1% drop from the same period last year, resulting in a nearly $1.2 billion decrease.
The number of borrowers also decreased, with 21,268 new mortgage commitments in July, down 4.9% compared to June and 7.2% from July 2025.
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