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Mortgage Rates Daily Commentary
Wednesday 20 August 2014  Add your comment
Pretty benign economic news

The pre-election economic update from Treasury yesterday had no big surprises and appears to have done little to change any forecasts around future interest rate moves. Perhaps the more important release was the Reserve Bank's survey of inflation expectations. As usual, the big focus was on respondents’ views on annual CPI inflation. For the year ahead these eased from 2.08% to to 1.96%, while the forecast for two years ahead was moderated from 2.36% to 2.23%. This put the one-year view close to the mid-point of the RBNZ’s 1.0 to 3.0% target range, while the two-year view was still riding a bit above this.

The only home loan rate changes today are little ones to Housing New Zealand's offers.

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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
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 -
BankDirect 6.75 6.09 6.99 6.65
BankDirect Special - - 5.99 -
BNZ - Classic - - 5.99 6.25
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 6.25 5.85 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 6.40 5.99 6.39 6.65
Kiwibank - Capped 5.65 6.50 - -
Kiwibank - Offset 6.30 - - -
Kiwibank LVR > 80% - - 5.99 -
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 - lo doc 7.59 7.06 7.38 7.82
RESIMAC LVR < 80% 6.59 6.06 6.38 6.82
Lender Flt 1yr 2yr 3yr
RESIMAC LVR < 85% 7.59 7.06 7.38 7.82
RESIMAC LVR < 90% 8.59 8.06 8.38 8.82
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 - - 5.99 -
The Co-operative Bank 6.70 6.00 6.00 6.25
TSB Bank 6.74 6.00 6.19 6.60
TSB Special - - 5.80 -
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 -
Median 6.70 6.06 6.39 6.65

Last updated: 20 August 2014 11:36am

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