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Last Article Uploaded: Monday, June 27th, 8:22PM
Mortgage Rates Daily Commentary
Monday 27 June 2016  Add your comment
Finally some rate changes to report

The impact of Brexit on New Zealand home loan rates is a little unclear at the moment with conflicting initial views. Swap rates came back after the result was known which indicates there maybe some cuts in rates, however one economist suggested rates may rise. We will have more on this later.

We do, for the first time in nearly two-weeks have a number of changes which may also indicate some other changes are coming. Whether these changes are Brexit-related is unclear.

SBS is cutting its six-month rate 24 points, but raising its one-year rate 15 basis points.

Sovereign will be cutting its floating rate to 5.75% on Wednesday. This change would also suggest that ASB, Bank Direct and NZ Home Loans will all follow suit.

Meanwhile, AMP says its one-year mortgage rate is to be cut by 10 basis points to 4.19%. Its two-year rate is rising by 14 points to 4.29%.

To see all the changes and how they compare you will have to go to the full rates table today [GO THERE]

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OCR left at 5.25%

Reserve Bank governor Don Brash says that the New Zealand economy remains robust, while the global situation worsens.

Wednesday, October 3rd 2001, 9:23AM
The Reserve Bank today left the Official Cash Rate (OCR) unchanged at 5.25%.

"The outlook for the world economy, and the likely impact on New Zealand's economy and inflation, remain highly uncertain," Reserve Bank Governor Don Brash says. "It is clear that the global economic outlook has deteriorated since the awful events of September 11."

"We will inevitably feel some backwash from that, although our own economy appears to have been at least as robust before the attacks as we had previously expected.

"Our decision to cut the OCR by 50 basis points two weeks ago was a precautionary move that recognised the inevitable adverse effect and the likely impact on confidence.

"But how large those effects will be, and how long they will last, remains unclear. At this stage, it appears best to leave the OCR unchanged.

"We will have an opportunity for a fuller review of the outlook for economic activity and inflation, and the risks around that outlook, in our next Monetary Policy Statement, which will be released on November 14," Brash says.

« Mortgage borrowing rises $357 million in AugustEconomists differ on which way the OCR will go »

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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 4.89
ASB Bank Special - 4.25 4.19 4.39
BankDirect 5.55 4.69 4.75 4.89
BankDirect Special - 4.25 4.19 4.39
BNZ - Mortgage One 6.30 - - -
BNZ - Rapid Repay 5.75 - - -
BNZ - Special - 4.25 4.19 4.39
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 5.75 4.19 4.19 4.49
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.60 4.39 4.69 4.99
Kiwibank 5.45 4.70 4.75 4.49
Kiwibank - Capped - - - -
Kiwibank - Offset 5.50 - - -
Kiwibank Special - 4.29 4.15 -
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 4.49
NZ Home Loans - Specials - - - -
Lender Flt 1yr 2yr 3yr
NZ Home Loans - Specials - 4.19 ▲4.19 4.39
Perpetual Trust 7.70 - - -
Resimac 5.34 4.95 4.99 5.05
SBS Bank 5.59 4.75 4.89 4.99
SBS Bank Special - 4.10 4.19 4.65
Sovereign 5.65 4.69 4.75 4.89
Sovereign Special - 4.25 4.19 4.39
The Co-operative Bank 5.45 4.25 4.29 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 5.75 4.79 4.85 4.99
Westpac - Capped rates - 5.15 5.25 -
Westpac - Offset 5.75 - - -
Westpac Special - 4.25 4.29 4.49
Median 5.75 4.69 4.75 4.89

Last updated: 27 June 2016 9:00am

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