New Zealand property values rose at an 8.4 per cent annual pace last month ahead of the introduction of low-equity home lending restrictions,

US President Barack Obama says he's willing to negotiate with Republicans on their priorities, but not under the threat of "economic chaos.''

More than 30pc of New Zealand businesses have reported optimism in the latest Quarterly Survey of Business Opinion - the highers level since March 2010.

On Oct 17 the US faces its first-ever default on its $16.7 trillion debt - something that could plunge the nation - and the world - into a crisis worse than 2008.

Westpac has dropped its two-year fixed rate home loan but at the same time hiked its one-year rate.

Real estate companies are at odds over whether the introduction of lending restrictions has affected the property market.

Property asking prices around the country have reached a record high, with a shortage of houses on the market helping to fuel demand.

The Reserve Bank's new mortgage lending restrictions come into force today, restricting the number of high loan-to-value ratio mortgages banks can lend.

Will new low deposit loan rules make it tougher for people to buy, grow and fund small business?

John Key has hit back at Labour over new Reserve Bank mortgage lending limits, saying home buyers are better off under National due to lower interest rates.

Prime Minister John Key says he is confident the property market will settle down, despite the Reserve Bank's new mortgage lending restrictions.

Up to 8000 families, couples and individuals trying to get into their first home will be stymied by the Reserve Bank's new lending restrictions, Finance Minister Bill English has acknowledged.