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Household indebtedness rises $240 million

New Zealanders borrowed an additional $240 million in mortgages in September, bringing the total owed on housing to $66.58 billion

Sunday, October 28th 2001, 7:58PM

by Jenny Ruth

New Zealanders borrowed an additional $240 million in mortgages in September, bringing the total owed on housing to $66.58 billion, according to the latest Reserve Bank figures.

Between September last year and this September, mortgage borrowing rose by $3.911 billion, or 6.24%. That’s slightly slower that the previous year’s 6.79% growth in mortgage borrowing.

Mortgage borrowing in September was 90.7% of total household indebtedness, down marginally from a year earlier and 91% in September 1999. Total household indebtedness in September was $73.385 billion.

« New housing consents fell in SeptemberHome affordability falls in September quarter »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 6.24 5.10 5.59 5.59
ANZ Special - 4.89 4.99 -
ASB Bank 6.50 5.25 5.49 5.75
ASB Bank Special - 4.89 5.10 5.39
BankDirect 6.50 5.25 5.49 5.75
BankDirect Special - 4.89 5.10 5.39
BNZ - Mortgage One ▼6.65 - - -
BNZ - Rapid Repay ▼6.24 - - -
BNZ - Special - - ▼4.69 -
BNZ - Std, FlyBuys ▼6.24 5.19 5.39 5.29
BNZ - TotalMoney 5.99 - - -
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.45 5.75 5.75 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct 6.10 6.45 6.69 7.10
First Credit Union 6.45 - - -
HBS Bank 6.14 5.39 5.39 5.39
HBS Special - 4.99 4.99 4.99
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 6.45 5.10 5.40 -
Housing NZ Corp 6.49 5.19 5.49 5.59
Lender Flt 1yr 2yr 3yr
HSBC Premier 6.60 4.89 4.89 5.29
HSBC Premier LVR > 80% - - - -
HSBC Special - 5.29 5.29 5.29
ICBC 6.75 5.99 6.39 -
Kiwibank 6.15 5.39 5.49 5.69
Kiwibank - Capped - - - -
Kiwibank - Offset 6.40 - - -
Kiwibank Special - 5.09 4.99 5.39
Liberty - - - -
Napier Building Society 6.50 5.80 6.70 -
Nelson Building Society 6.70 5.65 5.95 -
Lender Flt 1yr 2yr 3yr
NZ Home Loans 6.60 5.39 5.49 6.29
Perpetual Trust 7.70 - - -
Resimac 5.84 5.60 5.65 5.79
SBS Bank 6.14 5.39 5.39 5.39
SBS Bank Special - 4.99 4.99 4.99
Sovereign ▼6.35 5.25 5.10 5.75
Sovereign Special - 4.89 5.10 5.39
The Co-operative Bank 6.20 4.89 4.99 5.20
TSB Bank ▼6.24 5.45 5.49 ▼5.40
TSB Special - - 4.99 5.40
Wairarapa Building Society 6.20 5.75 5.95 -
Lender Flt 1yr 2yr 3yr
Westpac ▼6.15 5.39 5.39 5.59
Westpac - Capped rates - ▼6.15 ▼6.15 -
Westpac - Offset ▼6.15 - - -
Westpac Special - - ▼4.69 -
Median 6.45 5.27 5.39 5.40

Last updated: 29 July 2015 7:54pm

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