Mortgage Rates Daily Commentary
Monday 15 December 2025
ANZ too hikes rates; Kiwibank says the RBNZ stuffed up its communications last week
ANZ has followed Westpac and increased interest rates of terms of 18 months or more. It too blames rising wholesale r rates.
Grant Knuckey, managing director for Personal Banking, said the increases in fixed rates were a response to recent rises in wholesale interest rates.
“Since our last fixed rate reduction on October 17, wholesale interest rates have risen significantly, increasing by 33 to 77 basis points for terms 12 months and longer.”
This follows the Reserve Bank’s latest cut to the Official Cash Rate, when it signalled a pause in the easing cycle, indicating the OCR would remain at 2.25% for the foreseeable future.
“Changes to the OCR affect floating mortgage rates more directly. Changing expectations about future OCR decisions influence wholesale rates, causing fixed mortgage rates to go up or down,” Knuckey said.
In the News Kiwibank is arguing the medicine, lower interest rates, is working to fix the sick economy. (Even though they are now rising).
Interesting, Jarrod Kerr says the RBNZ is "at the centre of some confusion" over interest rates.RBNZ is "at the centre of some confusion" over interest rates.
Here is what Kiwibank is saying.
NBNZ latest to address broker commissions
National Bank has become the latest major lender to warn mortgage brokers that it wants to cut their commission payments.
Monday, May 21st 2007, 5:19AM
by Maria Scott
Last month sister bank ANZ warned brokers that it wanted to cut commission from 1 June to 45 basis points from an average of about 0.6%. It also proposed an extension to its clawback period, for loans redeemed early, from 12 months to 18 months and to introduce fees for loans submitted and approved but not drawn down.
A large broker group told Good Returns that National Bank had now written to a number of firms giving notice that it wanted to cut commission. No figures were put on the proposal.
National Bank confirmed that it was in discussions but said no decisions had been reached.
A spokesman said: “We've appreciated the constructive feedback we have received and we're now focused on concluding the process with the individual brokers.”
ASB also expects to open discussions with brokers on commissions over the next two months.
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