Is the economy in rebound, despite COVID-19?

Posted by: Centrix
Category: Business, News

Our Managing Director Keith McLaughlin spoke to Stuff about our latest credit insights data showing there are signs of improving confidence as the economy rebounds from COVID-19. Read the full story here.

Our data shows that mortgage and non-mortgage lending are both higher than they were at this time last year (up 17% for mortgages and 7% for non-mortgages). We are also seeing increases in average credit scores, meaning there are more people with good credit histories are back in the market looking to borrow.

While this is a positive economic sign of rebounding confidence, there are parts of the economy still struggling – nearly 3% of mortgages are in arrears (13,000 mortgages), but overall, the economy is in a much better position than it was in the middle of last year.

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