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Last Article Uploaded: Friday, November 21st, 9:26AM
Mortgage Rates Daily Commentary
Friday 21 November 2014  Add your comment
BNZ takes axes to three-year rates

BNZ has made big cuts to its three-year rate taking it down to 5.85% on its Standard and Global Plus products. While it is not tagged as a Special low equity premium rates will apply to loans where the equity is less than 20%.

To see how it compares (and who has a sharper rate check out the table where it is sorted lowest to highest on three year rates here).

As reported yesterday Kiwibank has stopped lending in the low equity space. Here's the story and more to follow.

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Latest Headlines

Happy days

Confidence: well, we've got plenty of it, if the latest couple of surveys are anything to go by.

Wednesday, March 28th 2001, 2:04PM

by Paul McBeth

Confidence: well, we've got plenty of it, if the latest couple of surveys are anything to go by.

The National Bank of New Zealand's survey shows that business confidence is up to +25 from +15 last month (in seasonally adjusted terms). Confidence appeared strongest in the service sector.

The National Bank's survey comes hard on the heels of WestpacTrust-McDermott Miller's roundup of consumer confidence, which is apparently at its highest level since early 2000. The confidence index for the March quarter was 121.6 (optimists equal pessimists when the index is 100), and was billed as a clear trend back to a favourable consumer environment.

WestpacTrust Chief Economist Adrian Orr pointed out the divergence in sentiment between New Zealand and other countries, particularly the US and Australia, but said the impact of the global slowdown was some months away. He said that the decline in inflation expectations shown in the bank's survey would give the Reserve Bank confidence to continue to ease policy.

Meanwhile, Deutsche Bank's Senior Economist Darren Gibbs says it would be surprising if the global slowdown did not moderate domestic confidence levels to some degree over the coming months.

"However, we remain of the view that the New Zealand economy is well placed to grow at or around potential growth levels (which we assess as being no higher than 2.5 per cent per annum). Thus, we anticipate only one further easing by the RBNZ in the current cycle - a 25 basis points cut in May."

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

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AMP Home Loans 7.24 5.69 6.19 6.55
AMP Home Loans $200k+ 7.14 5.59 6.09 6.45
AMP Home Loans LVR <80% - - 5.75 6.09
ANZ 6.74 6.15 6.39 6.49
ANZ Special - 5.69 5.75 6.09
ASB Bank 6.75 ▼5.99 ▼6.19 ▼6.39
ASB Bank Special - 5.70 5.75 ▼5.99
BankDirect 6.75 ▼5.99 ▼6.19 ▼6.39
BankDirect Special - 5.70 5.75 ▼5.99
BNZ - Classic - 5.69 5.75 -
BNZ - GlobalPlus 6.74 5.89 6.19 ▼5.85
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One 7.15 - - -
BNZ - Rapid Repay 6.74 - - -
BNZ - Std, FlyBuys 6.74 5.89 6.19 ▼5.85
BNZ - TotalMoney 6.74 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.45 6.05 6.20 -
Credit Union North 6.45 - - -
Credit Union South 5.75 - - -
eMortgage 6.04 6.15 6.69 7.19
Finance Direct 6.10 6.45 6.69 7.10
First Credit Union 6.45 - - -
Lender Flt 1yr 2yr 3yr
General Finance 5.95 6.25 6.50 7.10
HBS Bank 6.65 5.69 5.74 5.99
HBS Special - 5.59 5.49 5.69
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 6.70 6.00 6.50 -
Housing NZ Corp 6.74 5.99 6.39 6.59
HSBC Premier 6.84 5.69 5.75 5.99
HSBC Premier LVR > 80% - - - -
HSBC Special - 5.39 - -
ICBC 6.75 5.99 6.39 -
Kiwibank 6.65 ▼5.69 6.19 ▼6.55
Lender Flt 1yr 2yr 3yr
Kiwibank - Capped 5.65 6.50 - -
Kiwibank - Offset 6.55 - - -
Kiwibank LVR > 80% - - 5.75 ▼5.89
Liberty - - - -
Napier Building Society 5.80 6.00 6.70 -
Nelson Building Society 6.95 6.15 6.60 -
NZ Home Loans 6.85 6.09 6.40 6.65
Perpetual Trust 7.70 - - -
Resimac 6.59 6.10 6.28 6.43
SBS Bank 6.65 5.69 5.74 5.99
SBS Bank Special - 5.59 5.49 5.69
Lender Flt 1yr 2yr 3yr
Silver Fern 5.95 6.10 6.55 7.05
Sovereign 6.85 ▼5.99 ▼6.19 ▼6.39
Sovereign Special - 5.70 5.75 ▼5.99
The Co-operative Bank 6.70 5.70 5.75 6.09
TSB Bank 6.74 5.95 6.19 6.30
TSB Special - - 5.79 -
Wairarapa Building Society 6.20 5.75 5.95 -
Westpac 6.59 6.09 6.39 6.65
Westpac - Capped rates - 6.74 6.99 -
Westpac - Offset 6.59 - - -
Westpac Special - - - ▼5.99
Median 6.70 5.99 6.19 6.34

Last updated: 21 November 2014 8:56am

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