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Mortgages

Mortgage Rates Daily Commentary
Friday 17 May 2024  Add your comment
Negative disclosure anyone? Sue Griffiths gets a new job, plus another appointment

We have lots in today's newsletter. Our lead story today asks whether advisers should have to disclose which lenders they do not work with - as advisers in Australia have to do. It's an interesting debate.

Our story on clawbacks yesterday has been updated. That story included an accurate comment from an ANZ staffer. However the comment related to cash contribution clawbacks, not adviser commission clawbacks.

In People news Sue Griffiths has a new job and FMT appoints a second Christchurch-based business development manager.

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Latest Headlines

Should advisers have to disclose who they don't work with?

The Commerce Commission has asked whether advisers should have to tell clients which lenders they were not accredited with, as is mandated in Australia.

Friday, May 17th, 8:40AM  5 comments

The Australian Securities and Investments Commission (ASIC) requires mortgage advisers to disclose which lenders they did not deal with.

Speaking at the the Commerce Commission's three day conference on competition in banking mortgage adviser Sarah Curtis spoke in favour of "negative disclosure" - that is disclosing lenders an adviser does not deal with.

Leigh Hodgetts,...MORE»

[UPDATED] ComCom told clawback periods need to be reduced

Thursday, May 16th, 6:09AM  6 comments

The clawback periods of mortgage advisers' commissions should be much shorter and brought more in line with Australian practices, the Commerce Commission has been told.

MORE»

NZFSG adds external board member

Wednesday, May 15th, 8:00AM

Former AMP executive and current member of Code Committee joins NZ Financial Services Group (NZFSG) board. 

MORE»

 

Previous News

Should Kiwibank move faster on being ready for open banking?

Wednesday, May 15th, 6:09AM

Some fintech organisations are calling on Kiwibank to join the big four banks in being ready for open banking this year rather than waiting until 2026 as the government-owned bank had previously pledged.

MORE»

Expectations survey should cheer RBNZ before OCR review

Tuesday, May 14th, 10:05AM

Economists expect the latest RBNZ’s latest Survey of Expectations to help quell the central bank’s concerns about the longer-term inflation outlook.

MORE»

Advisers aid in discounting from headline rates: ANZ

Monday, May 13th, 3:29PM

Banks' ability to exercise discretionary pricing by charging some customers less than published headline rates is a very important part of banking and competition, ANZ New Zealand chief executive Antonia Watson told the Commerce Commission's conference on personal banking services.

MORE»

Businesses holding up OCR cuts

Friday, May 10th, 10:06AM

Businesses must realise that despite their costs jumping 10%, they can only raise prices 2% and must find savings and boost productivity, otherwise monetary policy won’t be eased and interest rates won’t fall.

MORE»

Mortgage borrowers hedge their bets on OCR coming down soon

Wednesday, May 8th, 11:02AM

The one-year fixed interest rate is the most popular for mortgage borrowers as economists continue to pick this November as possibly when the RBNZ might lower the OCR.

MORE»

MORE NEWS»

Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 6.19 - - -
AIA - Go Home Loans 8.74 7.14 6.75 ▼6.39
ANZ 8.64 7.74 7.39 7.25
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 7.14 6.79 6.65
ASB Bank 8.64 7.14 6.75 ▼6.39
ASB Better Homes Top Up - - - 1.00
Avanti Finance 9.15 - - -
Basecorp Finance 9.60 - - -
Bluestone 9.24 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - ▼7.14 6.79 6.65
BNZ - Green Home Loan top-ups - - - 1.00
BNZ - Mortgage One 8.69 - - -
BNZ - Rapid Repay 8.69 - - -
BNZ - Std, FlyBuys 8.69 ▼7.74 7.39 7.25
BNZ - TotalMoney 8.69 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - ▼6.79 - -
Co-operative Bank - Owner Occ 8.40 ▼6.99 6.79 6.65
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 ▼7.49 7.29 7.15
Credit Union Auckland 7.70 - - -
First Credit Union Special - 7.45 7.35 -
First Credit Union Standard 8.50 7.99 7.85 -
Heartland Bank - Online 7.99 6.89 6.55 6.35
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.60 7.40 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 7.05 ▼6.69 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.79 7.39 7.25
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 ▼7.99 7.79 7.55
Kiwibank - Offset 8.50 - - -
Kiwibank Special - ▼6.99 6.79 6.65
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.75 7.35 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
Resimac - LVR < 80% 8.84 8.09 7.59 7.29
Lender Flt 1yr 2yr 3yr
Resimac - LVR < 90% 9.84 9.09 8.59 8.29
Resimac - Specialist Clear (Alt Doc) - - 8.99 -
Resimac - Specialist Clear (Full Doc) - - 9.49 -
SBS Bank 8.74 ▼7.74 7.29 6.59
SBS Bank Special - ▼7.14 6.69 5.99
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 ▼6.14 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 7.79 7.55 7.45
Lender Flt 1yr 2yr 3yr
TSB Special 8.64 6.99 6.75 6.65
Unity 8.64 6.99 6.79 -
Unity First Home Buyer special - 6.55 6.45 -
Wairarapa Building Society 8.60 6.95 6.85 -
Westpac 8.64 7.89 7.35 7.25
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - 7.29 6.75 6.65
Median 8.64 7.21 7.29 6.65

Last updated: 17 May 2024 9:41am

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