While increasing the OCR this morning, Reserve Bank Governor Alan Bollard has indicated that future hikes won't be as aggressive as earlier tipped.

It's clear the economy has become dependent on the debt growth fuelled by the housing market's ever-increasing values.

New Zealand home loan affordability worsened slightly in June from May as the median house price nudged up faster than incomes.

NZers will look back on the winter of 2010 as the moment we finally realised the last decade of growth was a sham.

Economists expect the Reserve Bank will raise interest rates further late this month, despite lower than expected inflation figures.

House prices firmed up last month, but turnover stayed low said the Real Estate Institute.

Kiwibank, which led its rivals in cutting two-year fixed home loan rates last week, has now followed them by reducing its three, four and five year rates.

Westpac economists expect house prices to fall about 2 per cent this year and another 2 per cent next year.

House prices will fall gently for the next two years before levelling out, says a leading bank economist.

All the major trading banks have now lifted their mortgage rates, with BNZ becoming the last to move following the recent OCR hike.

Sth Canterbury Finance has stopped accepting deposits while it changes its prospectus.

Hubbard is defending his actions, while one investor says he had been told he was investing in a "trust fund".

Personal finance writer Mary Holm shares her best advice and tips.

ASB Bank has become the first big bank to lift its interest rates - and it says there are more to come.

The rural property sector remains stagnant because prices and sales are being dictated by banks, REINZ says.

New Zealand's housing market is running out of puff.

The average floating mortgage is expected to rise by $10 a week after the Reserve Bank lifted the OCR for the first time since 2007.