A real estate agent who bought a $1.27 million home with a complete stranger was a victim of an elaborate property scam and has been left with a $600,000 debt.

A former Auckland Barfoot & Thompson real estate agent has been found guilty of mortgage fraud totalling $13 million.

Homes are at their most affordable in six years - apart from in Auckland, where the average weekly mortgage is more than $570 a week.

New Kiwibank head Paul Brock is urging potential first home buyers not to be spooked and to go out and buy, so long as they can afford to.

After the Subprime Mortgage Mess, the US Foreclosure Fiasco.

You might be surprised how often insurance companies call their customers liars, fraudsters or criminals, and the flimsy basis on which they sometimes do so.

An ex-real estate agent allegedly used fake paperwork to secure bank mortgages in other people's names as part of an elaborate property scam involving more than $10m.

"Many mum and dad investors have lost large sums of money because of the poor investment advice they've received," blurted Simon Power.

Auckland and Queenstown have again been confirmed as having the most unaffordable housing for locals.

A weakening recovery and the Christchurch earthquake have prompted the Reserve Bank to leave official interest rates on hold this morning at 3 per cent.