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Mortgages

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Floating rates head on up

Floating mortgage rates rose an average of 50 percentage points over the 30 days to April 10, with most lenders' rate now at 8.10 per cent.

Tuesday, April 11th 2000, 12:00AM

by Paul McBeth

Floating mortgage rates rose an average of 50 percentage points over the 30 days to April 10, with most lenders' floating rates now at 8.10 per cent.

The latest monthly mortgage survey by the Real Estate Institute noted that:

  • Floating rates now range between 7.35 and 8.10 per cent, moving upward again after a period of relative stability.
  • One- year rates also increased, ranging between 7.80 and 8.30 per cent. That compared with a 7.70-8.15 per cent range a month ago.
  • The other, longer term fixed rates were fine tuned, with three to five year rates either unchanged or lower by 0.10 to 0.20 per cent.

Institute president Max Oliver said the pattern seen in March had continued "as both banks and lending institutions continue to raise the shorter term rates on offer in order to present longer term interest rate agreements as the more desirable option".

 

Click here for our rates table

Paul is a staff writer for Good Returns based in Wellington.

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 3.34 - - -
AIA - Go Home Loans 5.89 4.49 4.75 5.09
ANZ 5.79 5.09 5.29 5.69
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 4.49 4.69 5.09
ASB Bank 5.79 4.49 4.75 5.09
ASB Better Homes Top Up - - - 1.00
Avanti Finance - Near Prime 6.35 - - -
Avanti Finance - Specialised 7.55 - - -
Basecorp Finance 6.35 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - 5.99 5.69 5.69
BNZ - Mortgage One 5.94 - - -
BNZ - Rapid Repay 5.94 - - -
BNZ - Std 5.84 4.49 4.69 5.09
BNZ - TotalMoney 5.94 - - -
CFML 321 Loans 3.95 - - -
CFML Home Loans 6.05 - - -
CFML Prime Loans 6.25 - - -
CFML Standard Loans 6.95 - - -
China Construction Bank 6.44 4.85 4.95 4.95
China Construction Bank Special 6.44 5.85 5.95 5.95
Lender Flt 1yr 2yr 3yr
Co-operative Bank - First Home Special - ▲4.39 - -
Co-operative Bank - Owner Occ 4.99 ▲4.49 4.79 5.09
Co-operative Bank - Standard 4.99 ▲4.99 5.29 5.59
Credit Union Auckland 7.70 - - -
First Credit Union Special - 4.79 4.95 -
First Credit Union Standard 6.49 5.39 5.55 -
Heartland Bank - Online 5.30 5.89 - -
Heartland Bank - Reverse Mortgage 7.99 - - -
Heretaunga Building Society 7.45 5.90 5.80 -
ICBC 5.39 4.25 4.59 4.79
Kainga Ora 5.69 4.49 4.49 4.79
Lender Flt 1yr 2yr 3yr
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 5.65 5.39 5.39 5.65
Kiwibank - Offset 5.65 - - -
Kiwibank Special 6.15 4.49 4.49 4.85
Liberty 6.65 6.55 6.22 6.20
Nelson Building Society 6.49 4.59 ▲4.69 -
Pepper Money Near Prime 6.55 - - -
Pepper Money Prime 5.99 - - -
Pepper Money Specialist 8.00 - - -
SBS Bank 5.84 5.09 5.29 5.69
SBS Bank Special - 4.49 4.69 5.09
Lender Flt 1yr 2yr 3yr
SBS Construction lending for FHB 3.74 - - -
SBS FirstHome Combo 3.29 3.99 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 7.99 - - -
TSB Bank 6.59 5.19 5.29 5.59
TSB Special 5.79 4.49 4.00 4.79
Unity First Home Buyer special - 3.99 - -
Unity Special 5.79 4.49 4.65 -
Unity Standard 5.79 5.29 5.45 -
Wairarapa Building Society 6.15 4.59 4.79 -
Westpac 5.89 5.09 5.35 5.65
Lender Flt 1yr 2yr 3yr
Westpac Choices Everyday 5.99 - - -
Westpac Offset 5.89 - - -
Westpac Special - 4.49 4.75 5.05
Median 5.94 4.59 4.87 5.09

Last updated: 20 January 2026 5:56pm

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