Good Returns
Friday 12, March 2010
www.goodreturns.co.nz
Mortgage Rates and Daily News



Mortgage Rates
Friday, 12 March 2010

Westpac has followed ANZ and National Bank's lead and cut its three, four and five-year rates  to 7.75%, 8.20% and 8.50% respectively. Its three-year rate is now the lowest alongside ANZ for the major banks.

TSB Bank has reduced its four and five-year fixed rates also today.  Its four-year rate dropped 30 points to 8.20% and its five-year rate fell 15 points to 8.50%.

Meanwhile we review yesterday's official cash rate announcement here and provide a look at what has happened to interest rates over the past five years in this graph.

 





Mortgage Lender


Floating Rate


Fixed
6 Mth



Fixed
1 Yr



Fixed
2 Yr



Fixed
3 Yr



Fixed
4 Yr



Fixed
5 Yr



 

 
Floating
 
6 mnth
 
1 year
 
2 year
 
3 year
 
4 year
 
5 year

 
AA Financial Services
 
8.65
 
7.7
 
7.7
 
7.6
 
7.7
 
7.6
 
7.7

 
ANZ
 
8.75
 
7.7
 
7.7
 
7.7
 
7.7
 
7.7
 
7.7

 
ASB Bank
 
8.75
 
7.7
 
7.7
 
7.6
 
7.7
 
7.7
 
7.7

 
ABS Canterbury
 
8.45
 
7.5
 
7.25
 
7.35
 
7.75
 

 


 
Asteron
 
8.55
 

 
7.5
 
7.5
 
7.75
 
7.75
 
7.75

 
AXA New Zealand
 
8.7
 
7.7
 
7.7
 
7.7
 
7.7
 
7.7
 
7.7

 
BankDirect
 
8.25
 
7.5
 
7.4
 
7.3
 
7.5
 

 
7.5

 
BNZ
 
8.75
 
7.6
 
7.6
 
7.6
 
7.6
 
7.65
 
7.65

 
Cairns Lockie
 
8.4
 

 
7.59
 
7.59
 
7.79
 

 
7.76

 
eMortgage
 
8.4
 

 
7.2
 
7.59
 
7.79
 

 
7.76

 
Equitable
 
8.3
 

 
7.86
 
7.86
 
7.86
 

 
7.86

 
Fidelity Life
 
8.4
 

 

 

 

 

 


 
GEM Home Loans
 
8.65
 

 
8.1
 
8.1
 
8.35
 

 
8.35

 
General Finance
 
8.75
 

 
7.65
 
7.7
 
7.85
 
7.85
 
7.85

 
Guardian Trust
 
8.45
 

 
7.85
 

 
7.8
 

 


 
Headstart
 
8.95
 

 

 

 

 

 


 
HBS
 
8.75
 

 

 

 

 

 


 
Housing Corp
 
8.65
 

 
6.95
 
6.95
 
7.6
 

 
7.65

 
HSBC
 
8.7
 
7.7
 
7.5
 
7.4
 
7.5
 
7.6
 
7.6

 
Kiwibank
 
8.25
 
7.5
 
7.5
 
7.5
 
7.55
 
7.6
 
7.5

 
Loan Plan
 
8.7
 
7.75
 
7.55
 
7.4
 
7.6
 
7.6
 
7.6

 
Loan Society
 
8.7
 
7.5
 
7.6
 
7.6
 
7.9
 

 


 
Napier Building Society
 
8
 

 
8
 

 

 

 


 
National Bank
 
8.75
 
7.7
 
7.7
 
7.7
 
7.7
 
7.7
 
7.7

 
NZ Finance
 
8.55
 

 
7.65
 
7.65
 
7.9
 

 
7.9

 
NZ Home Loans
 
8.65
 
7.7
 
7.7
 
7.6
 
7.7
 

 
7.7

 
NZ Mortgage Funds
 
8.2
 

 
8.35
 
8.27
 
8.26
 
8.27
 
8.29

 
NZ Mortgage Income Trust
 
9.2
 

 

 

 

 

 


 
Pacific Prime
 
8.3
 
7.56
 
7.4
 
7.45
 
7.49
 
7.69
 
7.65

 
Perpetual Trust
 
8.75
 

 
7.75
 
7.75
 
7.8
 

 


 
Pioneer
 
8.4
 

 
7.55
 
7.6
 
7.65
 
7.8
 
7.8

 
Premier Mortgages
 
8.3
 

 
7.65
 
7.65
 
7.9
 

 
7.9

 
PSIS
 
8.65
 
7.5
 
7.5
 
7.5
 
7.55
 
7.65
 
7.85

 
Public Trust
 
8.65
 

 
7.5
 
7.6
 
7.7
 
7.7
 
7.7

 
Resi Home Loans
 
8.5
 

 
7.69
 
7.69
 
8.3
 

 
8.3

 
SBS
 
8.55
 
7.25
 
7.6
 
7.6
 
7.8
 

 


 
Silver Fern
 
7.6
 

 
7.99
 
7.91
 
7.84
 
7.84
 
7.88

 
SMC Building Society
 
8.65
 
7.5
 
7.55
 
7.55
 
7.8
 

 


 
Southern Cross
 
8.45
 

 
7.35
 

 

 

 


 
Sovereign
 
8.65
 
7.7
 
7.7
 
7.6
 
7.7
 
7.6
 
7.7

 
Sovereign $200K+
 
8.5
 
7.55
 
7.55
 
7.45
 
7.55
 
7.55
 
7.55

 
Superbank
 
8.5
 
7.7
 
7.65
 
7.6
 
7.7
 
7.7
 
7.7

 
Trustees Executors
 
8.7
 

 

 

 

 

 


 
TSB Bank
 
8.65
 

 
7.2
 
7.6
 
7.7
 

 


 
United Home Loans
 
8.45
 

 
7.8
 
7.8
 

 

 


 
Westpac
 
8.8
 
7.7
 
7.7
 
7.7
 
7.75
 
7.75
 
7.75

 
Westpac - Capped rates
 

 

 
7.99
 
7.99
 
8.1
 

 


 
Wizard Home Loans
 
8.41
 

 
7.5
 
7.5
 
7.85
 

 
7.85



News

Bollard sticking to the script

Reserve Bank governor Alan Bollard stuck to the script in leaving interest rates unchanged and indicating he may start hiking about the middle of the year.



OCR unchanged, mid-year hike reiterated

Reserve Bank of New Zealand Governor Alan Bollard kept the Official Cash Rate unchanged at 2.5%, as expected, and reiterated a mid-year start to rate hikes, saying the subdued pace of recovery will restrain inflation.



FULL SPEECH: OCR unchanged

The Reserve Bank today left the Official Cash Rate (OCR) unchanged at 2.5%.




Marketing Tips

Westpac has followed ANZ and National Bank's lead and cut its three, four and five-year rates  to 7.75%, 8.20% and 8.50% respectively. Its three-year rate is now the lowest alongside ANZ for the major banks.

TSB Bank has reduced its four and five-year fixed rates also today.  Its four-year rate dropped 30 points to 8.20% and its five-year rate fell 15 points to 8.50%.

Meanwhile we review yesterday's official cash rate announcement here and provide a look at what has happened to interest rates over the past five years in this graph.

 




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