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Mortgage Rates Daily Commentary
Thursday 31 July 2014  Add your comment
Today it's the turn of the smaller banks and lenders

Floating rate increases today at The Co-operative Bank, HSBC and non-bank lender RESIMAC. HSBC continue with its one, two and three year specials, but increase its six month rate.

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Mortgage borrowing surged in November

New Zealanders borrowed an additional $548 million in mortgages in November, bringing the total owed on housing to $67.502 billion, according to the latest Reserve Bank figures.

Thursday, December 27th 2001, 7:57PM

by Jenny Ruth

That’s the most borrowed in any month this year by a wide margin and confirms other indicators showing the housing market enjoyed a very strong November. The previous highest monthly amount borrowed in mortgages was March with $443 million.

Between November last year and this November, mortgage borrowing rose by $4.263 billion, or 6.74%. That’s faster than the previous year’s 6.19% growth in mortgage borrowing.

Mortgage borrowing in November was 90.7% of total household indebtedness, down marginally from 90.8% a year earlier and 91% in November 1999. Total household indebtedness in November was $74.442 billion.

« Roller coaster year for housing and mortgage marketsPositive signs for the housing market »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AMP Home Loans ▲7.24 5.99 6.29 6.60
AMP Home Loans $200k+ ▲7.14 5.89 6.19 6.50
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 - - 6.09 -
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 - - - 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 6.20 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 6.50 6.00 6.30 6.60
HSBC Premier ▲6.84 5.95 5.99 6.25
HSBC Premier LVR > 80% - - - -
HSBC Special - 5.85 5.85 5.85
Kiwibank 6.40 5.99 6.29 6.29
Lender Flt 1yr 2yr 3yr
Kiwibank - Capped 5.65 6.50 - -
Kiwibank - Offset 6.30 - - -
Kiwibank LVR > 80% - - 5.85 6.29
Liberty 5.64 - - -
Napier Building Society 5.80 6.00 6.70 -
Nelson Building Society 6.95 6.15 6.60 -
NZ Home Loans 6.35 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
RESIMAC LVR < 85% ▲7.59 7.06 7.38 7.82
Lender Flt 1yr 2yr 3yr
RESIMAC LVR < 90% ▲8.59 8.06 8.38 8.82
SBS Bank 6.15 5.85 6.20 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 -
Westpac ▲6.59 6.09 6.39 6.65
Lender Flt 1yr 2yr 3yr
Westpac - Capped rates - 6.49 6.99 -
Westpac - Offset ▲6.59 - - -
Westpac Special - 5.95 6.09 -
Median 6.59 6.05 6.39 6.60

Last updated: 2 August 2014 12:31pm

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