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New Zealanders borrowed more in October

New Zealanders borrowed an additional $374 million in mortgages in October, bringing the total owed on housing to $66.954 billion, according to the latest Reserve Bank figures.

Thursday, November 29th 2001, 6:22PM

by Jenny Ruth

New Zealanders borrowed an additional $374 million in mortgages in October, bringing the total owed on housing to $66.954 billion, according to the latest Reserve Bank figures.

Between October last year and this October, mortgage borrowing rose by $4.053 billion, or 6.44%. That’s slightly faster than the previous year’s 6.43% growth in mortgage borrowing.

Mortgage borrowing in October was 90.7% of total household indebtedness, down marginally from 90.8% a year earlier and 91% in October 1999. Total household indebtedness in October was $73.826 billion.

« Housing consents bounced back in OctoberUnbankable people wanted »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 6.49 5.10 5.59 5.59
ANZ Special - - 4.99 -
ASB Bank 6.50 5.49 5.49 5.75
ASB Bank Special - ▼4.89 5.10 5.39
BankDirect 6.50 5.49 5.49 5.75
BankDirect Special - ▼4.89 5.10 5.39
BNZ - Mortgage One 6.90 - - -
BNZ - Rapid Repay 6.49 - - -
BNZ - Special - - 4.99 -
BNZ - Std, FlyBuys 6.49 5.19 5.39 5.29
BNZ - TotalMoney 6.34 - - -
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 6.39 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 5.40 5.40 -
Housing NZ Corp 6.74 5.70 5.99 6.29
Lender Flt 1yr 2yr 3yr
HSBC Premier 6.60 4.95 4.95 5.40
HSBC Premier LVR > 80% - - - -
HSBC Special - 5.29 5.29 5.29
ICBC 6.75 5.99 6.39 -
Kiwibank 6.40 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 6.85 5.49 5.49 6.29
Perpetual Trust 7.70 - - -
Resimac 5.84 5.60 5.65 5.79
SBS Bank 6.39 5.39 5.39 5.39
SBS Bank Special - 4.99 4.99 4.99
Sovereign 6.60 5.49 5.10 5.75
Sovereign Special - ▼4.89 5.10 5.39
The Co-operative Bank 6.45 5.15 4.99 5.35
TSB Bank 6.49 5.45 5.49 5.75
TSB Special - - 4.99 5.40
Wairarapa Building Society 6.20 5.75 5.95 -
Lender Flt 1yr 2yr 3yr
Westpac 6.40 5.49 5.49 5.59
Westpac - Capped rates - 6.74 6.99 -
Westpac - Offset 6.40 - - -
Westpac Special - - 4.99 -
Median 6.49 5.45 5.40 5.40

Last updated: 3 July 2015 8:24am

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