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Mortgage Rates Daily Commentary
Friday 13 October 2017  Add your comment
Sharpening rates for Spring

Westpac has shaved 15 basis points off its standard and Special three-year fixed rates making them the most competitive of the main banks. They are only outdone by HSBC.

See how three-year rates stack up here.

This follows on ASB taking a leading position in the one-year fixed term recently.

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Modest pick-up predicted

Any housing market pick-up this year is likely to be modest, says the ASB Bank.

Saturday, February 24th 2001, 2:42PM

Any housing market pick-up this year is likely to be modest, says the ASB Bank.

In their latest weekly overview, bank economists say that January house sale data released recently by the Real Estate Institute (see earlier story) probably understates the extent of the current improvement. "Anecdotal evidence would suggest that this data - a record of settlements - understates the extent of the current pick-up in housing activity: actual sales apparently picked up even faster in January and continue to improve in February."

The REINZ also reported a higher median sale price for January ( up 3.4 per cent on January 2000), but ASB Bank economists say that, in this case, the extent of increase appears overstated. "The median was biased upwards by more high-priced houses sold."

"An alternative measure of house price movement was provided by Quotable NZ. They reported that the average house value declined by 0.1 per cent over the December quarter (-1.3 per cent over the year). In Auckland the average decline was -0.7 per cent (-2.5 per cent).

"Tie these data together with the more recent pick-up in activity and the situation would appear to be one of prices bottoming and turnover picking up.

"A word of warning however: population growth remains low, housing supply would appear ample and a slower global growth rate will dampen New Zealand income growth. Any housing market pick-up this year is likely to be modest."

The bank's market report says the focus this week will be on confidence, with surveys due for release including US consumer confidence (Tuesday night) and New Zealand business confidence (Wednesday) along with the New Zealand monetary policy review (also Wednesday).

"Confidence surveys are of influence at present," they say, pointing to two rates cuts by the US Federal Reserve in January and the pull of confidence surveys here to affect RBNZ moves. " In light of this central bank sensitivity, the focus next week will be on the US consumer and manufacturing surveys. In New Zealand, it may be a month or two yet until any local confidence decline triggerss an RBNZ easing."

« Mortgages from That Bank?Big bikkies for beach baches »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.79 5.05 5.19 5.49
ANZ Special - 4.55 4.69 4.99
ASB Bank 5.80 4.75 4.99 5.29
ASB Bank Special - 4.39 4.69 4.99
BNZ - Mortgage One 6.50 - - -
BNZ - Rapid Repay 5.95 - - -
BNZ - Special - 4.59 4.69 5.09
BNZ - Std, FlyBuys 5.90 4.99 5.29 5.59
BNZ - TotalMoney 5.90 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.15 5.45 5.50 -
Lender Flt 1yr 2yr 3yr
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 4.75 4.99 5.29
HSBC Premier 5.79 4.19 4.29 4.89
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
Lender Flt 1yr 2yr 3yr
ICBC 5.80 4.59 4.69 5.09
Kiwibank 5.80 4.95 5.15 5.59
Kiwibank - Capped - - - -
Kiwibank - Offset 5.80 - - -
Kiwibank Special - 4.55 4.65 5.09
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 6.10 5.10 5.45 -
Resimac 5.30 4.86 4.94 5.30
RESIMAC Special 5.00 - 4.75 -
SBS Bank 5.89 4.99 5.19 5.59
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 4.59 4.69 5.09
Sovereign 5.90 4.75 4.99 5.29
Sovereign Special - 4.39 4.69 4.99
The Co-operative Bank - Owner Occ 5.75 4.55 4.69 4.99
The Co-operative Bank - Standard 5.75 5.05 5.19 5.49
TSB Bank 5.80 4.80 5.15 5.45
TSB Special - 4.55 4.69 4.99
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.95 4.99 5.19 5.44
Westpac - Capped rates - 5.26 5.36 -
Westpac - Offset 5.95 - - -
Lender Flt 1yr 2yr 3yr
Westpac Special - 4.59 4.74 4.94
Median 5.82 4.78 4.99 5.29

Last updated: 20 October 2017 6:24pm

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