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Last Article Uploaded: Thursday, September 29th, 9:06PM
Mortgage Rates Daily Commentary
Thursday 29 September 2016  Add your comment
One and two year fixed rates preferred

ANZ economists have reiterated their view that one and two year fixed rate home loans offer the best value at the moment.

Rates on on longer-term home loans have remained unchanged despite a mild rise in wholesale interest rates. Although the latter might ordinarily flag a lift in fixed mortgage rates, the Reserve Bank’s reiteration that the OCR will likely go lower in November should cap wholesale rates and keep a lid on term mortgage rates.

"With little on the visible horizon to drive global interest rates markedly higher and the RBNZ flagging rates being low for quite a period, we prefer to target low cost 1-2 year fixed rates," they say.

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Housing consents rise from low base

House building activity is increasing, but off a low base, the latest building consent figures from Statistics New Zealand show.

Wednesday, August 1st 2001, 10:17AM

by Jenny Ruth

There were 1,640 new dwellings worth $238.6 million approved in June of which 244 worth $19.8 million were apartments. That compares with 1,598 dwellings worth $240.3 million approved in June last year, of which 174 worth $20.9 million were apartments.

But the number was down from the 1,856 dwellings worth $270.6 million approved in May which was the highest monthly figure since May 2000 when 2,103 dwellings worth $288.3 million were approved.

In the year ended June, there were 19,277 dwellings worth $2.83 billion were approved, down from the 24,244 worth $3.37 billion approved in the previous year. The number of apartments approved fell to 2,180 worth $189.3 million in the year ended June from 3,566 worth $306.2 million in the previous year.

Statistics New Zealand says the trend in the number of dwelling consents has been growing on average by 2% a month since December.

Number of New Dwellings Authorised
Number of Apartments Authorised

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.59 4.75 4.79 4.99
ANZ Special - 4.25 4.29 -
ASB Bank 5.55 4.69 4.75 4.89
ASB Bank Special - 4.25 4.29 4.34
BankDirect 5.55 4.69 4.75 4.89
BankDirect Special - 4.25 4.29 4.34
BNZ - Mortgage One 6.25 - - -
BNZ - Rapid Repay 5.70 - - -
BNZ - Special - 4.29 4.29 4.49
BNZ - Std, FlyBuys 5.64 4.85 4.89 4.99
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 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 4.75 4.89
HSBC Premier 5.75 4.19 4.19 4.49
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - 3.79 -
ICBC 5.60 4.39 4.69 4.99
Kiwibank 5.25 4.70 4.75 4.29
Kiwibank - Capped - - - -
Kiwibank - Offset 5.25 - - -
Kiwibank Special - 4.19 4.19 -
Liberty 5.69 - - -
Napier Building Society 6.50 5.80 6.70 -
Nelson Building Society 6.10 4.85 4.99 -
NZ Home Loans 5.45 4.69 4.75 4.75
NZ Home Loans - Specials - - - -
Lender Flt 1yr 2yr 3yr
NZ Home Loans - Specials - 4.19 4.19 4.29
Perpetual Trust 7.70 - - -
Resimac 5.19 4.94 4.90 4.91
SBS Bank 5.54 4.75 4.89 4.99
SBS Bank Special - 4.25 4.15 4.55
Sovereign 5.65 4.69 4.75 4.89
Sovereign Special - 4.25 4.29 4.34
The Co-operative Bank 5.45 4.25 4.35 4.49
TSB Bank 5.54 4.75 4.75 4.99
TSB Special - 4.25 4.19 4.59
Wairarapa Building Society 6.20 5.75 5.95 -
Lender Flt 1yr 2yr 3yr
Westpac 5.65 4.79 4.85 4.99
Westpac - Capped rates - 5.15 5.25 -
Westpac - Offset 5.65 - - -
Westpac Special - 4.25 4.29 4.49
Median 5.65 4.69 4.75 4.89

Last updated: 26 September 2016 9:58am

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