Mortgage Rates Daily Commentary
Monday 15 December 2025
ANZ too hikes rates; Kiwibank says the RBNZ stuffed up its communications last week
ANZ has followed Westpac and increased interest rates of terms of 18 months or more. It too blames rising wholesale r rates.
Grant Knuckey, managing director for Personal Banking, said the increases in fixed rates were a response to recent rises in wholesale interest rates.
“Since our last fixed rate reduction on October 17, wholesale interest rates have risen significantly, increasing by 33 to 77 basis points for terms 12 months and longer.”
This follows the Reserve Bank’s latest cut to the Official Cash Rate, when it signalled a pause in the easing cycle, indicating the OCR would remain at 2.25% for the foreseeable future.
“Changes to the OCR affect floating mortgage rates more directly. Changing expectations about future OCR decisions influence wholesale rates, causing fixed mortgage rates to go up or down,” Knuckey said.
In the News Kiwibank is arguing the medicine, lower interest rates, is working to fix the sick economy. (Even though they are now rising).
Interesting, Jarrod Kerr says the RBNZ is "at the centre of some confusion" over interest rates.RBNZ is "at the centre of some confusion" over interest rates.
Here is what Kiwibank is saying.
Wizard close to joining the fray
Wizard Financial Services, Australia's second-largest non-bank lender, plans to open its first two offices here in May.
Wednesday, March 22nd 2000, 12:00AM
by Paul McBeth
Wizard Financial Services, Australia's second-largest non-bank lender, plans to have operating systems set up here next month and its first offices open for business in May.
Wizard, which has been offering home loans across the Tasman for the past decade, started advertising for New Zealand staff late last year. The company said its intention was to establish niche market operators and satellite offices throughout the country.
Director Paul Ryan said from Sydney earlier today that a back office would be operating in New Zealand mid-April and the first two satellite offices in May. Both offices would be in the Auckland region.
Wizard has been offering borrowers online mortgage applications and approvals since last April, through its web-site ewizard.com.au. Ryan said a New Zealand web-site would be set up once Wizard had a physical presence here and would be translated to "the New Zealand way of doing things".
