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Last Article Uploaded: Sunday, November 23rd, 10:05PM
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

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
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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