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Last Article Uploaded: Tuesday, January 24th, 6:11PM
Mortgage Rates Daily Commentary
Monday 23 January 2017  Add your comment
A pleasant surprise

While everyone is busy raising mortgage rates one bank has done the opposite. SBS has lowered its one-year rate to 4.19% which makes it the lowest standard rate on offer in the market at the moment. HSBC sits alongside it here, however it has more conditions on its offer.

To see how the battle for short-term rates stacks up click here.

While SBS did lower a rate it also raised some of its longer ones.

Also moving today is Sovereign which has increased its variable rate as well as six months, one year and 18 month rates.

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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
ANZ ▲5.69 ▲4.95 ▲5.25 ▲5.49
ANZ Special - ▲4.45 ▲4.75 -
ASB Bank ▲5.80 ▲4.99 5.19 5.49
ASB Bank Special - ▲4.59 4.79 5.09
BankDirect ▲5.80 ▲4.99 5.19 5.49
BankDirect Special - ▲4.59 4.79 5.09
BNZ - Mortgage One 6.25 - - -
BNZ - Rapid Repay 5.70 - - -
BNZ - Special - 4.49 4.79 5.09
BNZ - Std, FlyBuys 5.79 4.89 5.19 5.49
BNZ - TotalMoney 5.64 - - -
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 - - - -
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 5.59 ▲4.75 ▲4.90 ▲5.20
HSBC Premier 5.59 4.19 4.39 4.69
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.60 4.39 4.69 4.99
Kiwibank 5.40 4.80 ▲5.05 ▲5.35
Kiwibank - Capped - - - -
Kiwibank - Offset 5.40 - - -
Kiwibank Special - 4.35 ▲4.65 ▲5.05
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 6.10 4.99 5.25 -
NZ Home Loans 5.65 4.80 ▲5.05 ▲5.35
NZ Home Loans - Specials - - - -
Lender Flt 1yr 2yr 3yr
NZ Home Loans - Specials - 4.35 ▲4.65 ▲5.05
Perpetual Trust 7.70 - - -
Resimac 5.30 4.86 4.94 5.15
SBS Bank 5.54 4.75 4.95 5.29
SBS Bank Special - ▼4.19 ▲4.54 ▲4.95
Sovereign ▲5.90 ▲4.99 5.19 5.49
Sovereign Special - ▲4.59 4.79 5.09
The Co-operative Bank - Owner Occ ▲5.55 ▲4.45 ▲4.75 ▲5.05
The Co-operative Bank - Standard ▲5.55 ▲4.95 ▲5.25 ▲5.55
TSB Bank 5.54 4.75 4.79 4.99
TSB Special - 4.25 4.49 4.69
Lender Flt 1yr 2yr 3yr
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.65 4.89 5.19 5.49
Westpac - Capped rates - 5.15 5.25 -
Westpac - Offset 5.65 - - -
Westpac Special - 4.49 4.79 5.09
Median 5.69 4.78 4.92 5.12

Last updated: 24 January 2017 9:42am

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