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Last Article Uploaded: Thursday, September 29th, 1:20PM
Mortgage Rates Daily Commentary
Thursday 29 September 2016  Add your comment
One and two year fixed rates preferred

ANZ economists have reiterated their view that one and two year fixed rate home loans offer the best value at the moment.

Rates on on longer-term home loans have remained unchanged despite a mild rise in wholesale interest rates. Although the latter might ordinarily flag a lift in fixed mortgage rates, the Reserve Bank’s reiteration that the OCR will likely go lower in November should cap wholesale rates and keep a lid on term mortgage rates.

"With little on the visible horizon to drive global interest rates markedly higher and the RBNZ flagging rates being low for quite a period, we prefer to target low cost 1-2 year fixed rates," they say.

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Carr steps down as RBNZ chair

Former acting governor Rod Carr has stepped down as chair of the Reserve Bank board of directors.

Tuesday, September 27th, 12:57PM

He will be replaced by Professor Neil Quigley ,vice-chancellor of the University of Waikato.

Kerrin Vautier has been appointed deputy chair.

Reserve Bank directors are appointed by the Minister of Finance for five-year renewable terms, and they elect their chair from among their numbers for one-year terms. 

Carr said that he had advised the board some months ago that he would not be seeking a further term as a director of the Reserve Bank when his present term ends in July 2017...MORE»

Steep decline in investor lending

Monday, September 26th, 4:17PM

New Reserve Bank mortgage lending data leaves little doubt that the new investor-targeted LVRs have had a significant impact on bank lending to investors - lending to Auckland landlords dropped by almost 20%.

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OCR call sticks to the script

Thursday, September 22nd, 10:35AM

Keeping the OCR on hold was the move expected of the Reserve Bank today, but economists say it means there will be another cut in November.

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Previous News

What the Reserve Bank said today

Thursday, September 22nd, 9:00AM

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OCR cut not on the cards - yet

Friday, September 16th, 11:41AM

Don’t expect another OCR cut this week: economists are uniformly predicting the Reserve Bank will leave the OCR on hold, but cut later this year.

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Kiwibank terms agreed

Thursday, September 15th, 12:54PM

The NZ Super Fund and ACC have agreed on the commercial terms under which they will acquire a chunk of Kiwi Group Holdings, the sole shareholder in Kiwibank, from NZ Post.

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Loan fee guidelines issued

Thursday, September 8th, 6:00AM

The Commerce Commission is making it clear that it expects all consumer credit fees to be reasonable and related to the actual cost to a lender of processing loans.

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New LVR rules clarified, confirmed

Monday, September 5th, 1:08PM

Greater clarification of the details surrounding new lending requirements has come today with the Reserve Bank’s confirmation of its latest investor-targeted LVRs.

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MORE NEWS»

Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.59 4.75 4.79 4.99
ANZ Special - 4.25 4.29 -
ASB Bank 5.55 4.69 4.75 4.89
ASB Bank Special - 4.25 4.29 4.34
BankDirect 5.55 4.69 4.75 4.89
BankDirect Special - 4.25 4.29 4.34
BNZ - Mortgage One 6.25 - - -
BNZ - Rapid Repay 5.70 - - -
BNZ - Special - 4.29 4.29 4.49
BNZ - Std, FlyBuys 5.64 4.85 4.89 4.99
BNZ - TotalMoney 5.64 - - -
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 6.70 - - -
Credit Union Baywide 5.95 4.99 4.99 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct 6.10 6.45 6.69 7.10
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 5.60 4.85 4.90 -
Housing NZ Corp 5.55 4.69 4.75 4.89
HSBC Premier 5.75 4.19 4.19 4.49
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - 3.79 -
ICBC 5.60 4.39 4.69 4.99
Kiwibank 5.25 4.70 4.75 4.29
Kiwibank - Capped - - - -
Kiwibank - Offset 5.25 - - -
Kiwibank Special - 4.19 4.19 -
Liberty 5.69 - - -
Napier Building Society 6.50 5.80 6.70 -
Nelson Building Society 6.10 4.85 4.99 -
NZ Home Loans 5.45 4.69 4.75 4.75
NZ Home Loans - Specials - - - -
Lender Flt 1yr 2yr 3yr
NZ Home Loans - Specials - 4.19 4.19 4.29
Perpetual Trust 7.70 - - -
Resimac 5.19 4.94 4.90 4.91
SBS Bank 5.54 4.75 4.89 4.99
SBS Bank Special - 4.25 4.15 4.55
Sovereign 5.65 4.69 4.75 4.89
Sovereign Special - 4.25 4.29 4.34
The Co-operative Bank 5.45 4.25 4.35 4.49
TSB Bank 5.54 4.75 4.75 4.99
TSB Special - 4.25 4.19 4.59
Wairarapa Building Society 6.20 5.75 5.95 -
Lender Flt 1yr 2yr 3yr
Westpac 5.65 4.79 4.85 4.99
Westpac - Capped rates - 5.15 5.25 -
Westpac - Offset 5.65 - - -
Westpac Special - 4.25 4.29 4.49
Median 5.65 4.69 4.75 4.89

Last updated: 26 September 2016 9:58am

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