Auckland property prices surged nearly 6 per cent in October, says real estate company Barfoot & Thompson.

Only a small portion of the Government's allocated $18.4 million to help modest income-earners buy houses has been taken up.

The Reserve Bank has left official interest rates unchanged at 2.5 per cent this morning, while confirming they are not likely to rise till the second half of next year.

Interest rates have been left on hold by the Reserve Bank this morning, with governor Alan Bollard confirming again that he intends to keep them low till "the latter part of 2010".

Rising house prices and interest rates have combined to weaken home loan affordability to its worst level since December 2008.

The number of houses sold in September rose 10 per cent, while prices increased 0.9 per cent.

A raft of mortgage rate changes have been announced, affecting both the ANZ and National banks.

The Federal Reserve is beefing up its examination of US banks, fearing that profligate lending to commercial property developers could ultimately prove as damaging to the financial system as the subprime mortgage debacle.

Pensioners Bruce and Judy Bartle have lost their case against the finance company that lent them more than their house was worth to invest in Blue Chip.

The High Court has dismissed a claim by Whangarei pensioners Judy and Bruce Bartle that GE Money acted wrongly when it lent them money to buy a Blue Chip apartment.

It's harder than ever to get into a new home, a study released today by interest.co.nz reveals.

Top economists are warning potential home buyers to proceed with caution as another bank drops its variable mortgage rate to the lowest in 40 years.

A mortgage broker is one of three men allegedly involved in a massive mortgage and property price scam.