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Mortgage Rates Daily Commentary
Monday 3 August 2015  Add your comment
Mortgage rates inch lower

Last week ended with more rate cuts. HSBC came out with rates at 4.49% (see here).

At the end of the day the ASB group of lenders also made cuts. Their key change is that it has matched the 4.69% which BNZ and Westpac have, but are using it on its one-year fixed rate rather than the two-year term.

 

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BNZ drops fixed rates

Monday, January 8th 2001, 9:30PM
The Bank of New Zealand has announced an across-the-board drop for all its fixed rate housing loans. (To see all the latest rates Click here)

The fall includes a 0.5% reduction to its one-year fixed rate.

The bank said the reductions were due to a fall in wholesale interest rates. The new rates will take effect from Tuesday January 9.

The BNZ's announcement comes after the US Federal Reserve last week cut rates by half a percentage point in response to concerns about a severe slowdown in the US economy.

New Zealand's Reserve Bankis due to review its benchmark rates in about two weeks time.

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 6.24 5.10 5.59 5.59
ANZ Special - 4.89 4.99 -
ASB Bank 6.50 ▼5.05 ▼5.25 ▼5.35
ASB Bank Special - ▼4.69 ▼4.89 ▼4.99
BankDirect 6.50 ▼5.05 ▼5.25 ▼5.35
BankDirect Special - ▼4.69 ▼4.89 ▼4.99
BNZ - Mortgage One 6.65 - - -
BNZ - Rapid Repay 6.24 - - -
BNZ - Special - - 4.69 -
BNZ - Std, FlyBuys 6.24 5.19 5.39 5.29
BNZ - TotalMoney 5.99 - - -
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.45 5.75 5.75 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct 6.10 6.45 6.69 7.10
First Credit Union 6.45 - - -
HBS Bank 6.14 5.39 5.39 5.39
HBS Special - 4.99 4.99 4.99
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 6.45 5.10 5.40 -
Housing NZ Corp 6.49 5.19 5.49 5.59
Lender Flt 1yr 2yr 3yr
HSBC Premier 6.60 4.89 4.89 ▼4.99
HSBC Premier LVR > 80% - - - -
HSBC Special - ▼4.49 ▼4.49 ▼4.49
ICBC 6.75 5.99 6.39 -
Kiwibank 6.15 5.39 5.49 5.69
Kiwibank - Capped - - - -
Kiwibank - Offset 6.40 - - -
Kiwibank Special - 5.09 4.99 5.39
Liberty - - - -
Napier Building Society 6.50 5.80 6.70 -
Nelson Building Society 6.70 5.65 5.95 -
Lender Flt 1yr 2yr 3yr
NZ Home Loans 6.60 5.39 5.49 6.29
Perpetual Trust 7.70 - - -
Resimac 5.84 5.60 5.65 5.79
SBS Bank 6.14 5.39 5.39 5.39
SBS Bank Special - 4.99 4.99 4.99
Sovereign 6.35 ▼5.05 ▼5.25 ▼5.35
Sovereign Special - ▼4.69 ▼4.89 ▼4.99
The Co-operative Bank 6.20 4.89 4.99 5.20
TSB Bank ▼6.24 5.45 5.49 ▼5.40
TSB Special - - 4.99 5.40
Wairarapa Building Society 6.20 5.75 5.95 -
Lender Flt 1yr 2yr 3yr
Westpac 6.15 5.39 5.39 5.59
Westpac - Capped rates - ▼6.15 ▼6.15 -
Westpac - Offset 6.15 - - -
Westpac Special - - ▼4.69 -
Median 6.45 5.19 5.39 5.39

Last updated: 31 July 2015 11:25am

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