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Mortgages

Mortgage Rates Daily Commentary
Wednesday 10 December 2025  Add your comment
And just like that rates start rising; Westpac hikes interest rates

TMM reported recently that home loans could start rising and that is exactly what has happened. Westpac has hiked all fixed rates from two years to five years by 30 basis points each.

Meanwhile it lowered its six month rate 20 basis points.

The bank blames significant increases in wholesale rates for the hikes.

Westpac managing director of Product, Sustainability and Marketing, Sarah Hearn, says while it is raising longer-term rates, the bank is holding back some of those cost increases for customers.

“With today’s changes, we’re holding back some of the increase in wholesale borrowing costs to customers, while also offering great value for those looking for short-term flexibility with our new 6-month advertised special rate.

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It's Spring!

Daffodils are springing up all over and so are the special mortgage offers, as lenders try to generate some new season fever.

Monday, September 11th 2000, 2:35PM

by Paul McBeth

Daffodils are springing up all over and so are the special mortgage offers, as lenders try to generate some new season fever.

Traditionally a time of year when lenders crank up their campaigns, Spring 2000 is no exception and comes after months of depressed housing sales.

Offers ready for picking include:

  • ASB Bank's 60 minute Home Loan Challenge: As the ads say, "If it takes us a second more than 60 minutes to give you a decision on your loan during September and October 2000, we'll give you $100 worth of Mitre 10 vouchers".
  • AMP Banking's prize draw for home loans approved before December 14. The main attraction is a selection of technology toys (including a computer, palm pilot and MP3 player) and it's also giving away a handful of digital cameras.

If you'd prefer the certainty of making some savings, try the likes of TSB Bank or Frontline Home Loans which are waiving loan set-up fees for a limited period. TSB Bank is also offering money towards your legal fees, as are HongKongBank and BankDirect.

Other lenders are juicing up campaigns on their existing products. For example, WestpacTrust is currently promoting its capped rate loans ("your payments can't go up, but they can g...

...o down from where they started"),. Meanwhile, Bank of New Zealand has mailed out a nifty cardboard cut-out that you can quickly make up into a mini house (it's promoting BNZ's Rapid Repay on the roof-top and comes with a card for the local mobile mortgage manager).

ANZ has also chosen Spring to launch an association with Key Law and the Public Trust, reducing conveyancing charges for mortgages taken out with the bank.

Paul is a staff writer for Good Returns based in Wellington.

« No hurry for housing pick-upRevolving mortgages get the once-over »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 3.34 - - -
AIA - Go Home Loans 5.89 4.49 4.49 4.79
ANZ 5.69 5.09 5.09 5.39
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 4.49 4.49 4.79
ASB Bank 5.79 4.49 4.49 4.79
ASB Better Homes Top Up - - - 1.00
Avanti Finance - Near Prime 6.35 - - -
Avanti Finance - Specialised 7.55 - - -
Basecorp Finance 6.35 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - 5.99 5.69 5.69
BNZ - Mortgage One 5.94 - - -
BNZ - Rapid Repay 5.94 - - -
BNZ - Std 5.84 4.49 4.49 4.79
BNZ - TotalMoney 5.94 - - -
CFML 321 Loans ▼3.95 - - -
CFML Home Loans ▼6.05 - - -
CFML Prime Loans ▼6.25 - - -
CFML Standard Loans ▼6.95 - - -
China Construction Bank 6.44 4.85 4.95 4.95
China Construction Bank Special 6.44 5.85 5.95 5.95
Lender Flt 1yr 2yr 3yr
Co-operative Bank - First Home Special - 4.35 - -
Co-operative Bank - Owner Occ 4.99 4.45 4.49 4.79
Co-operative Bank - Standard 4.99 4.95 4.99 5.29
Credit Union Auckland 7.70 - - -
First Credit Union Special - 4.79 4.95 -
First Credit Union Standard 6.49 5.39 5.55 -
Heartland Bank - Online 5.30 5.89 - -
Heartland Bank - Reverse Mortgage 7.99 - - -
Heretaunga Building Society 7.45 5.90 5.80 -
ICBC 5.39 4.25 4.59 4.79
Kainga Ora ▼5.69 ▼4.49 ▼4.49 ▼4.79
Lender Flt 1yr 2yr 3yr
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 5.65 5.39 5.39 5.65
Kiwibank - Offset 5.65 - - -
Kiwibank Special 6.15 4.49 4.49 4.85
Liberty 6.65 6.55 6.22 6.20
Nelson Building Society 6.49 4.59 4.59 -
Pepper Money Near Prime 6.55 - - -
Pepper Money Prime 5.99 - - -
Pepper Money Specialist 8.00 - - -
SBS Bank 5.84 5.09 5.09 5.39
SBS Bank Special - 4.49 4.49 4.79
Lender Flt 1yr 2yr 3yr
SBS Construction lending for FHB 3.74 - - -
SBS FirstHome Combo 3.29 4.29 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 7.99 - - -
TSB Bank 6.59 5.19 5.29 5.59
TSB Special 5.79 4.39 4.49 4.79
Unity First Home Buyer special - 3.99 - -
Unity Special 6.39 4.49 4.65 -
Unity Standard 6.39 5.29 5.45 -
Wairarapa Building Society 6.15 4.59 4.59 -
Westpac 5.89 5.09 ▲5.35 ▲5.65
Lender Flt 1yr 2yr 3yr
Westpac Choices Everyday 5.99 - - -
Westpac Offset 5.89 - - -
Westpac Special - 4.49 ▲4.75 ▲5.05
Median 5.99 4.59 4.85 4.85

Last updated: 10 December 2025 7:46am

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