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Last Article Uploaded: Monday, September 1st, 4:55PM
Mortgage Rates Daily Commentary
Monday 1 September 2014  Add your comment
TSB picks on two-year rate

TSB has taken a market leading position in the two-year fixed rate market with a rate of 5.79%. In addition to this it is offering cash incentives and the chance to win a $20,000 house make-over. Of course terms and conditions apply.

To see how this rate compares we have sorted the table from lowest to highest two year rates here.

In the three-year space ASB and its associated lenders have a new 6.19% Special.

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RB cuts OCR

Thursday, April 19th 2001, 10:38AM

by Jenny Ruth

As expected, Reserve Bank governor Don Brash has cut the official cash rate from 6.25% to 6%, although he warned the market there are strong grounds for being cautious about further cuts.

Still, the decision was made yesterday before the US Federal Reserve’s surprise move overnight to cut its benchmark rate, the federal funds rate, from 5% to 4.5%. It is the fourth time this year the Fed has cut rates in an attempt to bolster the flagging US economy.

Brash says the main reason for lowering interest rates is slowing growth in New Zealand’s main trading partners.

`This slowdown in global growth will have an adverse impact on demand for our exports, and is likely to reduce inflationary pressures in New Zealand,’ he says.

But world prices for New Zealand’s commodities remain robust and the New Zealand dollar has declined since March. `These unexpected developments, if they persist, could take much of the disinflationary sting out of weakening global demand,’ Brash says.

As well, significant parts of the economy are operating near to capacity and the labour market is relatively tight. ``It is for these reasons that we are only cautiously moving the OCR in the same direction as official interest rates in other countries. We will be assessing the emerging data carefully.’’

The central bank will next review interest rates on 16 May when it releases its next monetary policy statement.

Financial markets took little notice of Brash’s words of caution. The 90-day bank bills, the benchmark from which floating mortgage rates are set, had already fallen in reaction to the Fed’s move and half an hour after his statement were trading at 5.82%, down from 5.91% yesterday.

Economists are still expecting a further cut on 16 May.

« Cash rate could hit 5.75%Housing market activity increases »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AMP Home Loans 7.24 5.99 6.39 6.65
AMP Home Loans $200k+ 7.14 5.89 6.29 6.55
AMP Home Loans LVR <80% - - 5.85 6.29
ANZ 6.74 6.05 6.49 6.65
ANZ LVR > 90 6.74 6.55 6.99 7.15
ANZ Special - - 5.99 -
ASB Bank 6.75 6.09 6.40 6.65
ASB Bank Special - - 5.99 6.19
BankDirect 6.75 6.09 6.99 6.65
BankDirect Special - - 5.99 6.19
BNZ - Classic - - 5.99 ▼6.19
Lender Flt 1yr 2yr 3yr
BNZ - GlobalPlus 6.74 5.99 6.39 6.59
BNZ - Mortgage One 7.15 - - -
BNZ - Rapid Repay 6.74 - - -
BNZ - Std, FlyBuys 6.74 5.99 6.39 6.59
BNZ - TotalMoney 6.74 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.45 5.90 6.50 -
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
Lender Flt 1yr 2yr 3yr
First Credit Union 6.45 - - -
General Finance 5.95 6.25 6.50 7.10
HBS Bank 6.15 5.85 5.99 6.25
HBS Special - - - 5.95
Heartland 6.45 6.75 7.00 7.60
Heretaunga Building Society ▲6.70 ▲6.00 6.50 -
Housing NZ Corp 6.74 5.99 6.19 6.60
HSBC Premier 6.84 5.95 5.95 6.55
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 6.75 5.99 6.39 -
Lender Flt 1yr 2yr 3yr
Kiwibank ▲6.65 5.99 6.39 6.65
Kiwibank - Capped 5.65 6.50 - -
Kiwibank - Offset ▲6.55 - - -
Kiwibank LVR > 80% - - ▼5.89 -
Liberty 5.64 - - -
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 LVR < 80% 6.59 6.35 6.58 6.77
RESIMAC LVR < 85% - - - -
Lender Flt 1yr 2yr 3yr
RESIMAC LVR < 90% - - - -
RESIMAC LW DOC - - - -
SBS Bank 6.15 5.85 5.99 6.25
SBS Bank Special - - - 5.95
Silver Fern 5.95 6.10 6.55 7.05
Sovereign 6.85 6.09 6.40 6.65
Sovereign Special - - - 6.19
The Co-operative Bank 6.70 6.00 6.00 6.25
TSB Bank 6.74 6.00 6.19 6.60
TSB Special - - ▼5.79 -
Wairarapa Building Society 6.20 5.75 5.95 -
Lender Flt 1yr 2yr 3yr
Westpac 6.59 6.09 6.39 6.65
Westpac - Capped rates - 6.74 6.99 -
Westpac - Offset 6.59 - - -
Westpac Special - - 5.99 6.19
Median 6.70 6.03 6.39 6.60

Last updated: 1 September 2014 9:03am

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