The latest quarterly Mortgage Insights report from digital property exchange PEXA has shown new loan volumes largely unchanged from the previous corresponding period a year ago. "The absence of growth does suggest that the market is reaching its peak and faces a number of headwinds, including the uncertainty of the upcoming federal election and speculated interest rate rises," PEXA observed. Refinances on the other hand were well up on the prior year, led by WA (up 53.5 on pcp) and QLD (up 42.6 per cent), with property owners motivated to take advantage of record low interest rates. As of March 2022, over 85 per cent of residential and commercial property transfers and 95 per cent of all refinances nationally were lodged via PEXA. New Zealand banks may face new debt to income (DTI) ratio restrictions for mortgage lending, with the RBNZ publishing its response to feedback on a proposed DTI tool. “Following consideration of the submissions, we intend to proceed with designing a framework for operationalising DTI restrictions, in consultation with the industry and other stakeholders,” the bank said. It hopes to finalise the framework by late this year, with DTI restrictions ready to be used by mid-2023 “if required”. Consumer finance provider MoneyMe, in a briefing on its performance for the March 2022 quarter, disclosed that its revenue rose by 141 per cent to A$35 million. Gross customer receivables were $1.2 billion in 3Q22, up 398 per cent on pcp, courtesy of the acquisition of SocietyOne, which increased the group’s gross receivables at the end of 3Q22 by $356m on a statutory basis and by $452 million on a proforma basis. Originations were $340 million, up 215 per cent on pcp, with 46 per cent of loans being secured against car assets. The Group increased its external funding capacity to $1.4 billion in the quarter, backed by two major Australian banks and two international banks.