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Last Article Uploaded: Friday, May 6th, 3:55PM
Mortgage Rates Daily Commentary
Friday 6 May 2016  Add your comment
ASB encourages borrowers to go long

ASB (along with Sovereign, Bank Direct and NZ Home Loans) have bumped up short rates, and lowered the two-year rate. No doubt the move is designed to encourage people to go out the curve a little.

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Housing market activity increases

New Zealanders are taking advantage of the current lower interest rates

Thursday, April 19th 2001, 11:29AM

by Jenny Ruth

The Reserve Bank’s cut in interest rates last month appears to be stimulating activity in the housing market.

Figures from the Real Estate Institute show nationwide sales rose from $1.29 billion in February with 6,182 homes sold to $1.39 billion in March with 6,659 homes sold.

`The institute has been anticipating that sales volumes would begin to rise, and the latest figures indicate that the New Zealand public are beginning to take advantage of the current lower interest rates available,’ says Institute president Rex Hadley.

Still, the housing market is still relatively subdued. There were 93 fewer homes sold in March compared with March last year. The national median house price rose only slightly from $173,500 in February to $173,800 in March, well below the March 2000 median price of $175,000.

Eight of the 11 regions saw sales increases compared with February and the median price rose only in five of the regions.

The central bank cut its official cash rate from 6.5% to 6.25% on 14 March. It cut the rate again today to 6%.

« RB cuts OCRWarehouse looks to the mortgage market »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.64 4.75 4.85 4.99
ANZ Special - 4.25 4.35 -
ASB Bank 5.55 4.69 ▼4.75 5.25
ASB Bank Special - ▲4.25 ▼4.19 4.65
BankDirect 5.55 4.69 ▼4.75 5.25
BankDirect Special - ▲4.25 ▼4.19 4.65
BNZ - Mortgage One 6.30 - - -
BNZ - Rapid Repay 5.75 - - -
BNZ - Special - 4.25 4.39 4.64
BNZ - Std, FlyBuys 5.69 4.85 4.89 4.99
BNZ - TotalMoney 5.69 - - -
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 6.70 - - -
Credit Union Baywide 5.95 ▼4.99 ▼4.99 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct 6.10 6.45 6.69 7.10
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 5.60 4.85 4.90 -
Housing NZ Corp 5.55 4.69 4.85 4.99
HSBC Premier 6.10 4.25 4.39 4.59
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - 4.25 4.25 -
ICBC 5.60 4.39 4.69 4.99
Kiwibank 5.45 4.70 4.75 4.75
Kiwibank - Capped - - - -
Kiwibank - Offset 5.50 - - -
Kiwibank Special - 4.29 4.25 4.85
Liberty - - - -
Napier Building Society 6.50 5.80 6.70 -
Nelson Building Society 6.10 4.85 4.99 -
NZ Home Loans 5.85 4.69 4.75 5.09
Perpetual Trust 7.70 - - -
Lender Flt 1yr 2yr 3yr
Resimac 5.59 5.24 5.29 5.39
SBS Bank 5.59 4.75 4.89 4.99
SBS Bank Special - 4.10 4.29 4.65
Sovereign 5.65 4.69 ▼4.75 5.09
Sovereign Special - ▲4.25 ▼4.19 4.65
The Co-operative Bank 5.45 4.25 4.35 4.65
TSB Bank 5.54 4.85 4.95 5.25
TSB Special - 4.35 4.19 4.79
Wairarapa Building Society 6.20 5.75 5.95 -
Westpac 5.75 4.79 4.89 4.99
Westpac - Capped rates - 5.15 5.25 -
Lender Flt 1yr 2yr 3yr
Westpac - Offset 5.75 - - -
Westpac Special - 4.25 4.39 4.80
Median 5.75 4.69 4.75 4.99

Last updated: 6 May 2016 8:50am

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