Sharechat Logo

Appetite for credit returning - Veda Advantage

Tuesday 1st February 2011

Text too small?

A renewed appetite for credit ahead of Christmas has been interpreted as a sign of an improving economy.

Inquiries in mortgages and credit cards increased in December, although consumer credit inquiries eased, according to credit bureau Veda Advantage.

Credit card applications rose 5.7% in December 2010 compared with December 2009, with the greatest interest from baby boomers - those born post-World War 2, between 1946 and 1964, the first of who are now reaching the retirement age.

Mortgage applications rose nearly 1%. Consumer credit applications were down 1.9% on a year earlier, although they were still above a low hit in 2009.

"The credit crunch shocked people and they changed their behaviours quickly, but now we are seeing a renewed but cautious approach to credit," said Veda Advantage managing director John Roberts.

"People were clearly more active in late 2010, and I expect to see this optimism continue in 2011."

 

NZPA



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report