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Member
Originally Posted by myles
Market place summary fixed perhaps:
Activity LAST 24 HRS 7 NEW LOANS $190,000 FULLY FUNDED LOAN AMOUNT
Maybe they found a way to split the markets?!
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Junior Member
There are two there right now, both fall outside my usual 10% repayment to income, but what the hell, i need to get some money on!
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Member
https://www.interest.co.nz/business/...nline-platform
Acording to that article harmoney itself hasn't started investing yet. So what is/was up with the marketplace?
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Member
Originally Posted by Vagabond47
Maybe it's just the lousy weather and rate hikes?
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Member
Originally Posted by RMJH
Maybe it's just the lousy weather and rate hikes?
The market is awash with credit - esp unsecured.
The funding Mix graph says it all. I believe HM has changed its business model emphasis.
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Member
Originally Posted by leesal
The funding Mix graph says it all. I believe HM has changed its business model emphasis.
It certainly seems so, and as a consequence retail investors seem to be being fed false information on the number of loans funded - and it can't be that previously all we have ever seen is the number funded by retail, because if that is the case we wouldn't have seen those large blocks of loans lent to 80% suddenly all disappearing at once.
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Member
Originally Posted by leesal
The market is awash with credit - esp unsecured.
The funding Mix graph says it all. I believe HM has changed its business model emphasis.
Agree it does seem increasingly likely. Not sure why you would bother to drip so few loans to retail though. Definitely an information void which needs filling.
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yeah, nah
Originally Posted by leesal
The market is awash with credit - esp unsecured.
I'm not sure that it is... The graph below suggests something quite different:
Retail Spending.jpg
Source: https://www.stats.govt.nz/informatio...tions-may-2018
It has been shown that P2P lending follows credit card spending etc... So perhaps it is just a significant lull in loans. No doubt Harmoney have obligations to their wholesale 'partners', so the low availability of loans for retail investors may just be due to a lack of 'excess' loans. [All speculation...]
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Member
Just because there is plenty of credit available doesn't mean people are going to take it up. Between tax increases (fuel excise, akl regional fuel tax etc) and threats of mortgage rate increases in the media I can imagine many households are tightening the belt a bit. And those that believe Kiwibuild will actually drop house prices (unlikely) will be saving like mad I would suspect.
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Member
Originally Posted by myles
I'm not sure that it is... The graph below suggests something quite different:
Retail Spending.jpg
Source: https://www.stats.govt.nz/informatio...tions-may-2018
It has been shown that P2P lending follows credit card spending etc... So perhaps it is just a significant lull in loans. No doubt Harmoney have obligations to their wholesale 'partners', so the low availability of loans for retail investors may just be due to a lack of 'excess' loans. [All speculation...]
Intriguing. Although don't trust one offs counter trend, could be anything from data collection, to a one off skewing the comparative month on the other end. Also completely rubbish weather in April. Lets see what June brings. Next month there are changes to Working for Families - likely to stimulate further credit growth.
I use the Household Balance sheet, Consumer Loans. https://www.rbnz.govt.nz/statistics/c22. Which released data shows continued steady credit growth from early 2014 through to current. Mar18 (16.4b) being 7% above Mar17 (15.3b).
Another good proxy is new motor vehicle sales https://www.mia.org.nz/Sales-Data/Vehicle-Sales. Which is still cracking on superbly. I just do not believe their is anything fundamentally different in credit, all seems to be typical mid/late cycle behaviour.
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