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Mortgages

Mortgage Rates Daily Commentary
Wednesday 10 December 2025  Add your comment
And just like that rates start rising; Westpac hikes interest rates

TMM reported recently that home loans could start rising and that is exactly what has happened. Westpac has hiked all fixed rates from two years to five years by 30 basis points each.

Meanwhile it lowered its six month rate 20 basis points.

The bank blames significant increases in wholesale rates for the hikes.

Westpac managing director of Product, Sustainability and Marketing, Sarah Hearn, says while it is raising longer-term rates, the bank is holding back some of those cost increases for customers.

“With today’s changes, we’re holding back some of the increase in wholesale borrowing costs to customers, while also offering great value for those looking for short-term flexibility with our new 6-month advertised special rate.

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Top mortgage brokers named

The NZ Mortgage Brokers Association has named the winners of its broker of the year awards.

Thursday, September 22nd 2005, 1:07PM

The Waikato region keeps producing top mortgage brokers. Cambridge-based Phil Caldwell was last week named as the Mortgage Broker of the Year by the NZ Mortgage Brokers Association.

Last year’s winner, James McAllister, came from Hamilton, and the inaugural winner of the awards, Wayne Oliver, also operates out of the River City.

Caldwell, who is part of the PLAN group, has been mortgage broking for three years, however has spent many years in the mortgage industry.

The judges for this year’s awards say they were impressed by the very high calibre of all the finalists, a fact which augurs well for the future of the mortgage broking industry.

“One of the common qualities demonstrated by the finalists was a passion for the industry, and for their role within it. For the finalist being a mortgage broker was about more than having a job. It was about being able to help their customers to realise their goals. As a result, providing a high level of service to all their customers was seen as integral to what they do.

“Another common characteristic among the finalists was the use of innovative practices to ensure they were providing the bet possible experience for their customers.

“They showed a willingness to look outside the square for new ways to tackle common problems, and to try different approaches.”

A list of winners follows and the next issue of the NZ Mortgage Mag will have comprehensive coverage of this year’s awards.

Mortgage Broker of the Year Award Winners

Mortgage Broker of the Year

Phil Caldwell
Phil Caldwell Mortgages

Joint Runner Up

Charlie Reid
Mortgage Link Queenstown

Joint Runner Up

Russell Spencer
Mortgage Choice

Rookie Mortgage Broker of the Year

Bruce Patten
Ray White Financial Services

Regional Mortgage Brokers of the Year

Otago Southland Region

Charlie Reid
Mortgage Link, Queenstown

Canterbury

Henry Clay
Mortgage Link Christchurch

Nelson Marlborough Region

Paul Fuller
Mortgage Link Marlborough

Greater Wellington (including Horowhenua and Kapiti)

Russell Spencer
Mortgage Choice

Central North Island

Craig Seton
Mortgage Link Palmerston North

Waikato/Bay of Plenty

Phil Caldwell
Phil Caldwell Mortgages

Greater Auckland

Bruce Patten
Ray White Financial Services

Central Auckland

Craig Lawson
Apex Adviser Group

North Harbour/Northland

Joanne Dale
Jet Express Mortgage Finance

« Kiwibank grows mortgage bookHigher floating rates now a possibility »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 3.34 - - -
AIA - Go Home Loans 5.89 4.49 4.49 4.79
ANZ 5.69 5.09 5.09 5.39
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 4.49 4.49 4.79
ASB Bank 5.79 4.49 4.49 4.79
ASB Better Homes Top Up - - - 1.00
Avanti Finance - Near Prime 6.35 - - -
Avanti Finance - Specialised 7.55 - - -
Basecorp Finance 6.35 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - 5.99 5.69 5.69
BNZ - Mortgage One 5.94 - - -
BNZ - Rapid Repay 5.94 - - -
BNZ - Std 5.84 4.49 4.49 4.79
BNZ - TotalMoney 5.94 - - -
CFML 321 Loans ▼3.95 - - -
CFML Home Loans ▼6.05 - - -
CFML Prime Loans ▼6.25 - - -
CFML Standard Loans ▼6.95 - - -
China Construction Bank 6.44 4.85 4.95 4.95
China Construction Bank Special 6.44 5.85 5.95 5.95
Lender Flt 1yr 2yr 3yr
Co-operative Bank - First Home Special - 4.35 - -
Co-operative Bank - Owner Occ 4.99 4.45 4.49 4.79
Co-operative Bank - Standard 4.99 4.95 4.99 5.29
Credit Union Auckland 7.70 - - -
First Credit Union Special - 4.79 4.95 -
First Credit Union Standard 6.49 5.39 5.55 -
Heartland Bank - Online 5.30 5.89 - -
Heartland Bank - Reverse Mortgage 7.99 - - -
Heretaunga Building Society 7.45 5.90 5.80 -
ICBC 5.39 4.25 4.59 4.79
Kainga Ora ▼5.69 ▼4.49 ▼4.49 ▼4.79
Lender Flt 1yr 2yr 3yr
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 5.65 5.39 5.39 5.65
Kiwibank - Offset 5.65 - - -
Kiwibank Special 6.15 4.49 4.49 4.85
Liberty 6.65 6.55 6.22 6.20
Nelson Building Society 6.49 4.59 4.59 -
Pepper Money Near Prime 6.55 - - -
Pepper Money Prime 5.99 - - -
Pepper Money Specialist 8.00 - - -
SBS Bank 5.84 5.09 5.09 5.39
SBS Bank Special - 4.49 4.49 4.79
Lender Flt 1yr 2yr 3yr
SBS Construction lending for FHB 3.74 - - -
SBS FirstHome Combo 3.29 4.29 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 7.99 - - -
TSB Bank 6.59 5.19 5.29 5.59
TSB Special 5.79 4.39 4.49 4.79
Unity First Home Buyer special - 3.99 - -
Unity Special 6.39 4.49 4.65 -
Unity Standard 6.39 5.29 5.45 -
Wairarapa Building Society 6.15 4.59 4.59 -
Westpac 5.89 5.09 ▲5.35 ▲5.65
Lender Flt 1yr 2yr 3yr
Westpac Choices Everyday 5.99 - - -
Westpac Offset 5.89 - - -
Westpac Special - 4.49 ▲4.75 ▲5.05
Median 5.99 4.59 4.85 4.85

Last updated: 10 December 2025 7:46am

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