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Last Article Uploaded: Saturday, April 19th, 1:42PM
Mortgage Rates Daily Commentary
Wednesday 16 April 2014  Add your comment
Pricing chaos in home loan market

[With Graph] The home loan market is becoming particularly competitive and is somewhat chaotic at the moment according to one bank chief executive. [READ ON]

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Latest Headlines

Economists: Expect another increase

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

Thursday, April 17th, 5:00PM

Mortgagerates.co.nz’s latest survey of economists found they all expect the Reserve Bank to move the rate by 25 basis points again, which would take it to 3%.
But they are split in their views on how many more increases there could be this year.

ASB and HSBC expect another two – in July and December. ASB predicts a peak of 4.5% at the end of 2015.

ASB economist Chris Tennent-Brown said: “We don't expect the RBNZ will give a fresh signal on the extent of the tightening cycle...MORE»

Pricing chaos in home loan market

Wednesday, April 16th, 12:01PM  5 comments

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

MORE»

Welcome Home Loans to expand

Monday, April 14th, 3:33PM  1 comment

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

MORE»

 

Previous News

[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.

MORE»

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»

Low-equity fees face legal questions

Monday, April 7th, 7:00PM

Low-equity fees and interest rate premiums charged by banks for home loans are being reviewed by lenders and may become a thing of the past after a recent court case.

MORE»

Bank surprised at extent of lending drop

Tuesday, April 1st, 3:12PM

Fewer borrowers are taking out loans that are exempt from the new LVR restrictions than the Reserve Bank expected.

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 5.69 5.99 6.40
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: 15 April 2014 9:01am

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