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Last Article Uploaded: Wednesday, April 23rd, 5:01PM
Mortgage Rates Daily Commentary
Wednesday 23 April 2014  Add your comment
ANZ eases low equity loan requirements

ANZ has made changes to the way it prices low equity mortgages, but it isn't making much noise about the changes. Find out what it's doing here

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ANZ becomes more aggressive with low equity loans

ANZ, which is the last of the big banks to keep a two-tiered pricing structure for its home loans, has taken a half step to change this model.

Wednesday, April 23rd, 10:53AM  2 comments

It continues to have a higher interest rate for its low equity loans but has reduced the threshold this kicks in from an 80% LVR to 90%.

Its says, on its website, that this change applies to new fixed rates where the deposit or equity in the deal is 10%.

It does not apply to loans which are exempt from the Reserve Bank’s LVR restrictions including refinancing from another bank.

Home loans at 90% or higher LVR have an interest rate 50 basis points higher than standard rates amd all loans above 80% LVR also incur the cost of a low equity premium...MORE»

Curtains for NZF

Wednesday, April 23rd, 6:00AM

NZF sells it mortgage group business and closes up shop after failing to find a new auditor.

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Economists: Expect another increase

Thursday, April 17th, 5:00PM

Another hike is coming in the Official Cash Rate this Thursday, economists predict.

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Previous News

Pricing chaos in home loan market

Wednesday, April 16th, 12:01PM

There is “chaos” in pricing of home loans, according to one bank chief executive and borrowers have all the power.

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Welcome Home Loans to expand

Monday, April 14th, 3:33PM

[UPDATED with minister's comments] The Welcome Home Loan scheme, which is designed to help first home buyers is being expanded.

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[VIDEO] Where does money come from?

Wednesday, April 9th, 11:31AM

Apparently banks pull money out of thin air then lend it to borrowers for home loans. Here is what TVNZ reported.

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Multiple distribution channels a problem

Wednesday, April 9th, 6:00AM

Bank customers are now more demanding than they once were, and want more accessibility and flexibility from their home loan products, says SBS Bank chief executive Ross Smith.

MORE»

Westpac moves on tiers, but not on LEMs

Tuesday, April 8th, 10:20AM

Westpac is the latest bank to remove its two-tier pricing for home loans, however it refuses to budge on its low equity margin.

MORE»

MORE NEWS»

Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AMP Home Loans 6.49 5.69 6.29 6.40
AMP Home Loans $200k+ 6.39 5.59 5.99 6.30
AMP Home Loans LVR <80% - - 5.99 -
ANZ 5.99 5.85 6.49 6.85
ANZ LVR > 80 5.99 6.35 6.99 7.35
ANZ Special - - 5.95 -
ASB Bank 6.00 5.85 6.49 6.85
ASB Bank Special - - - -
BankDirect 6.00 5.85 6.49 6.85
BankDirect Special - - - -
BNZ - Classic - - 5.95 -
Lender Flt 1yr 2yr 3yr
BNZ - GlobalPlus 6.19 5.85 6.29 6.29
BNZ - Mortgage One 6.60 - - -
BNZ - Rapid Repay 6.19 - - -
BNZ - Std, FlyBuys 6.19 5.85 6.29 6.29
BNZ - TotalMoney 5.99 - - -
Credit Union Auckland 6.20 - - -
Credit Union Baywide 5.85 5.90 6.50 -
Credit Union North 6.45 - - -
Credit Union South 5.75 - - -
eMortgage 6.04 6.15 6.69 7.19
Fidelity Life 5.70 5.40 6.00 -
Lender Flt 1yr 2yr 3yr
Finance Direct 6.10 6.45 6.69 7.10
First Credit Union 6.45 - - -
General Finance 5.95 6.25 6.50 7.10
HBS Bank 5.90 5.60 5.99 6.35
HBS LVR > 80% - - - -
Heartland 5.95 6.25 6.50 7.10
Heretaunga Building Society 5.75 5.50 6.30 -
Housing NZ Corp 5.75 5.50 6.30 6.40
HSBC Premier 6.24 5.59 6.29 6.55
HSBC Premier LVR > 80% - - - -
HSBC Special - - 5.79 -
Lender Flt 1yr 2yr 3yr
Kiwibank 5.90 ▲5.85 ▲6.19 ▲6.60
Kiwibank - Capped 5.65 6.50 - -
Kiwibank - Offset 5.60 - - -
Kiwibank LVR > 80% - - 6.29 6.40
Liberty 5.64 - - -
Napier Building Society 5.80 6.00 6.70 -
Nelson Building Society 6.45 5.95 6.60 -
NZ Home Loans 6.10 5.69 6.29 6.60
Perpetual Trust 7.70 - - -
RESIMAC - lo doc 7.34 7.14 7.49 8.05
RESIMAC LVR < 80% 5.84 5.64 5.99 6.55
Lender Flt 1yr 2yr 3yr
RESIMAC LVR < 85% 6.84 6.64 6.99 7.55
RESIMAC LVR < 90% 7.84 7.64 7.99 8.55
SBS Bank 5.90 5.60 5.99 6.35
SBS LVR < 80% - - - -
Silver Fern 5.95 6.10 6.55 7.05
Southern Cross 5.95 6.25 6.50 7.10
Sovereign 6.10 5.85 6.49 6.85
Sovereign Special - - - -
The Co-operative Bank 5.95 5.65 5.99 6.35
TSB Bank 6.04 5.40 5.99 6.40
Wairarapa Building Society 6.20 5.75 5.95 -
Lender Flt 1yr 2yr 3yr
Westpac 5.74 5.85 5.95 6.85
Westpac - Capped rates - 6.19 6.69 -
Westpac - Offset 5.74 - - -
Median 6.00 5.85 6.29 6.85

Last updated: 22 April 2014 9:04am

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