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Last Article Uploaded: Tuesday, May 23rd, 9:13PM
Mortgage Rates Daily Commentary
Monday 22 May 2017  Add your comment
No changes, so what's the best rate?

There continues to be very few changes to home loan rates at the moment. What's the best option currently?
Here's what Westpac said in today's economic update: "For borrowers with a deposit of 20% or more, the best value lies in the two-year rate or shorter terms. Three to five-year rates seem high relative to where we think short-term rates are going to go over that time. That said, these rates are most likely to be pressured higher by global market trends, so borrowers who prefer the security of a longer term still have a chance to lock in at historically quite low levels."

Here is the two-year rates from lowest to highest.

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Latest Headlines

Banks told to cut mortgage commissions to cover levy

Australian mortgage brokers are pulling in an average A$4600 per mortgage, analysts at UBS say, and cutting those payments could be one way that banks can pay their new levy.

Tuesday, May 23rd, 6:00AM

This year's Australian Budget imposed a 0.06 of a percentage point annual levy on the liabilities of the country's five biggest banks.

This would pull in about A$1.5 billion (NZ$1.6b), analysts said, or 5% of the combined group profits of the banks.

That has prompted warnings that consumers, including those in New Zealand, could see their banking costs increase. Goldman Sachs said banks would have to increase mortgage rates by 14 basis points to meet the cost...MORE»

HSBC hasn't ruled out working with brokers

Monday, May 22nd, 6:27AM

HSBC has returned to the mortgage advice space in Australia and hasn't ruled out a similar move in New Zealand.

MORE»

Broker sentenced to jail

Sunday, May 21st, 8:15PM

A former mortgage broker has been described by a judge as a thief who took from people who trusted him as a friend.

MORE»

 

Previous News

Non-banks winners as mainstream lenders tighten rules

Friday, May 19th, 3:51PM

Banks tightening and more strictly enforcing their lending criteria are driving borrowers to non-bank options.

MORE»

Monthly payment option on reverse mortgages

Thursday, May 11th, 12:04PM

Growing demand for reverse mortgage loans has prompted Heartland Bank to offer its customers a monthly advance payment option.
 

MORE»

Surprise at RBNZ’s OCR outlook

Thursday, May 11th, 10:26AM

The Reserve Bank’s decision to hold the OCR at 1.75% was expected, but economists are surprised at its projection the OCR will remain on hold until late 2019.

MORE»

No change to OCR: What RB said today

Thursday, May 11th, 9:00AM

MORE»

Focus on tone, not content, of OCR call this week

Monday, May 8th, 6:00AM

An official cash rate cut this week would come as a major surprise to all economists.

MORE»

MORE NEWS»

Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.79 4.99 5.35 5.59
ANZ Special - 4.49 4.85 -
ASB Bank 5.80 4.85 5.14 5.49
ASB Bank Special - 4.45 4.74 5.09
BankDirect 5.80 4.85 5.14 5.49
BankDirect Special - 4.45 4.74 5.09
BNZ - Mortgage One 6.50 - - -
BNZ - Rapid Repay 5.95 - - -
BNZ - Special - 4.59 4.79 5.09
BNZ - Std, FlyBuys 5.90 4.99 5.19 5.49
BNZ - TotalMoney 5.90 - - -
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 6.70 - - -
Credit Union Baywide 5.95 5.10 5.25 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 5.00 5.20 -
Housing NZ Corp 5.79 4.99 5.14 5.49
HSBC Premier 5.79 4.09 4.29 4.89
Lender Flt 1yr 2yr 3yr
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 5.70 4.59 4.69 5.09
Kiwibank 5.70 5.09 5.19 5.65
Kiwibank - Capped - - - -
Kiwibank - Offset 5.70 - - -
Kiwibank Special - 4.69 4.79 5.25
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 6.10 5.10 5.45 -
Resimac 5.00 4.86 4.75 5.30
Lender Flt 1yr 2yr 3yr
SBS Bank 5.79 4.99 5.19 5.49
SBS Bank Special - 4.59 4.79 5.25
Sovereign 5.90 4.85 5.14 5.49
Sovereign Special - 4.45 4.74 5.09
The Co-operative Bank - Owner Occ ▲5.75 4.59 4.85 5.25
The Co-operative Bank - Standard ▲5.75 5.09 5.35 5.75
TSB Bank 5.65 4.80 5.15 5.45
TSB Special - 4.55 4.75 5.15
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.84 4.99 5.29 5.59
Westpac - Capped rates - 5.15 5.25 -
Lender Flt 1yr 2yr 3yr
Westpac - Offset 5.84 - - -
Westpac Special - 4.59 4.85 5.09
Median 5.80 4.85 5.14 5.38

Last updated: 19 May 2017 9:26am

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