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Mortgage Rates Daily Commentary
Wednesday 16 April 2014  Add your comment
Pricing chaos in home loan market

[With Graph] The home loan market is becoming particularly competitive and is somewhat chaotic at the moment according to one bank chief executive. [READ ON]

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Housing market picks up

Anecdotal evidence that January was a good month for house sales has been confirmed by the latest stats from the Real Estate Institute.

Tuesday, February 20th 2001, 9:46AM

Anecdotal evidence that January was a good month for house sales has been confirmed by the latest stats from the Real Estate Institute.

REINZ residential property figures show a $5,000 jump in the national median sales price on the previous month, to $175,000. The total value of sales was also up, from $936.5 million in December to $994.9 million.

Institute President Rex Hadley said that the upturn in values was nation-wide, not merely a result of higher prices in the larger urban centres. Nine of the 11 regions posted an increase on January 2000 while the national price was the highest recorded for any January since 1996 (the year the survey began).

Hadley said that the low mortgage rate environment had not yet had an impact on national sales volumes. However, he expected to see market activity increase in direct proportion to continued interest rate easing.

The national sales volume for January was 4,741, up from 4,611 in December. However, that was still 473 homes less than for January 2000.

The Institute's rates survey for the month to February 10 recorded falls of up to 0.45 percentage points in floating mortgage rates. One to five-year fixed rates also fell anywhere from 0.05 to 0.95 percentage points.

 

REINZ: Median price comparisons (total dwellings)

Region

January 2000

December 2000

January 2001

Northland

171,250

135,000

149,000

Auckland

230,000

240,000

240,000

Waikato/BOP/Gisborne

159,500

160,000

160,500

Hawkes Bay

125,000

125,000

136,000

Manawatu/Wanganui

99,250

109,500

105,000

Taranaki

93,000

98,000

106,500

Wellington

185,000

190,000

195,000

Nelson/Marlborough

140,000

155,000

152,000

Canterbury/Westland

147,000

146,250

142,000

Otago

95,000

90,000

109,000

Southland

72,000

69,000

106,000

New Zealand

169,250

170,000

175,000

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AMP Home Loans 6.49 5.69 6.29 6.40
AMP Home Loans $200k+ 6.39 5.59 5.99 6.30
AMP Home Loans LVR <80% - - 5.99 -
ANZ 5.99 5.85 6.49 6.85
ANZ LVR > 80 5.99 6.35 6.99 7.35
ANZ Special - - 5.95 -
ASB Bank 6.00 5.85 6.49 6.85
ASB Bank Special - - - -
BankDirect 6.00 5.85 6.49 6.85
BankDirect Special - - - -
BNZ - Classic - - 5.95 -
Lender Flt 1yr 2yr 3yr
BNZ - GlobalPlus 6.19 5.85 6.29 6.29
BNZ - Mortgage One 6.60 - - -
BNZ - Rapid Repay 6.19 - - -
BNZ - Std, FlyBuys 6.19 5.85 6.29 6.29
BNZ - TotalMoney 5.99 - - -
Credit Union Auckland 6.20 - - -
Credit Union Baywide 5.85 5.90 6.50 -
Credit Union North 6.45 - - -
Credit Union South 5.75 - - -
eMortgage 6.04 6.15 6.69 7.19
Fidelity Life 5.70 5.40 6.00 -
Lender Flt 1yr 2yr 3yr
Finance Direct 6.10 6.45 6.69 7.10
First Credit Union 6.45 - - -
General Finance 5.95 6.25 6.50 7.10
HBS Bank 5.90 ▲5.60 ▲5.99 ▲6.35
HBS LVR > 80% - - - -
Heartland 5.95 6.25 6.50 7.10
Heretaunga Building Society 5.75 5.50 6.30 -
Housing NZ Corp 5.75 5.50 6.30 6.40
HSBC Premier 6.24 5.59 6.29 6.55
HSBC Premier LVR > 80% - - - -
HSBC Special - - 5.79 -
Lender Flt 1yr 2yr 3yr
Kiwibank 5.90 5.69 5.99 6.40
Kiwibank - Capped 5.65 6.50 - -
Kiwibank - Offset 5.60 - - -
Kiwibank LVR > 80% - - 6.29 6.40
Liberty 5.64 - - -
Napier Building Society 5.80 6.00 6.70 -
Nelson Building Society 6.45 5.95 6.60 -
NZ Home Loans 6.10 5.69 6.29 6.60
Perpetual Trust 7.70 - - -
RESIMAC - lo doc 7.34 7.14 7.49 8.05
RESIMAC LVR < 80% 5.84 5.64 5.99 6.55
Lender Flt 1yr 2yr 3yr
RESIMAC LVR < 85% 6.84 6.64 6.99 7.55
RESIMAC LVR < 90% 7.84 7.64 7.99 8.55
SBS Bank 5.90 ▲5.60 ▲5.99 ▲6.35
SBS LVR < 80% - - - -
Silver Fern 5.95 6.10 6.55 7.05
Southern Cross 5.95 6.25 6.50 7.10
Sovereign 6.10 5.85 6.49 6.85
Sovereign Special - - - -
The Co-operative Bank 5.95 5.65 5.99 6.35
TSB Bank 6.04 5.40 5.99 6.40
Wairarapa Building Society 6.20 5.75 5.95 -
Lender Flt 1yr 2yr 3yr
Westpac 5.74 5.85 5.95 6.85
Westpac - Capped rates - 6.19 6.69 -
Westpac - Offset 5.74 - - -
Median 6.00 5.85 6.29 6.85

Last updated: 15 April 2014 9:01am

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