Credit Arrears Hit Five-Year Low | Auckland News

Auckland News Today | 2 Min News | The Daily News Now! · Aug 3, 2026 · 1m

Credit arrears hit a five-year low as fewer people fall behind on payments, even with inflation lingering—renters and homeowners alike are showing improved financial discipline. Consumer borrowing has sharply declined, especially for credit cards, energy, and BNPL services, signaling cautious spending. Businesses face mixed signals: while defaults are falling, closures persist in hospitality and retail, with construction also seeing liquidations. Yet, new loan applications show better credit quality overall. If you’re struggling, experts urge you to contact lenders or advisors to negotiate a…