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Mortgages

Mortgage Rates Daily Commentary
Tuesday 5 March 2024  Add your comment
Mortgage arrears rising but still low; Mortgage lending grows but still soft

The number of homeowners behind in their mortgage repayments hit more than 21,800 last month, data from credit company Centrix show. [READ ON]

 

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Property market will survive test: REINZ

The Real Estate Institute believes the current flow of investment money into the property market will be a test, but one which it can survive.

Monday, February 10th 2003, 7:13AM

The Real Estate Institute believes the current flow of investment money into the property market will be a test, but one which it can survive, institute president Graeme Woodley says.

Commenting on recent reports which have identified a strong revival of interest in property investment, on the back of dismal performances by equity markets and managed funds, Woodley said the ‘flight to safety’ by many investors burnt by managed equity funds, back into investment property confirmed the Institute’s view that most New Zealand investors were happier with the level of risk provided by property.

"We have known for some time that property is a very steady performer when both risk and return are taken into account. The rental returns may not always as high as equities, in a good year, but equally you don’t get the big swings in value. What’s happening now is that money is flowing back into commercial and residential investment property, and at a considerable rate."

"That will be a big test for the market because too much money coming into the market too quickly could have the effect of inflating values unsustainably."

However the December residential statistics showed an easing of the national median price which suggested any big peaks in prices were unlikely to happen.

Woodley said the recent reports of international equity funds losing on average 28.to 35% of their value last year, and the local market funds finishing down two per cent made residential and commercial property investment look pretty appealing, and in terms of risk and return, second only to cash in the bank.

"The fact that the New Zealand sharemarket has been in the doldrums for so long is no cause for joy for anyone since it reflects the economic and commercial difficulties we face as a country."

But until these problems were overcome and the New Zealand sharemarket was again seen as an attractive investment avenue, property was providing a ‘safe haven’ for capital, much of which was retirement savings for ordinary New Zealanders," he said.

« NBNZ causes problems for brokersHousing indicators point upwards »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 6.19 - - -
AIA - Go Home Loans 8.74 7.45 7.05 6.85
ANZ 8.64 ▼7.84 ▼7.39 ▼7.25
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - ▼7.24 ▼6.79 ▼6.65
ASB Bank 8.64 ▼7.29 ▼6.85 6.65
ASB Better Homes Top Up - - - 1.00
Avanti Finance 9.15 - - -
Basecorp Finance 9.60 - - -
Bluestone 9.24 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - 7.29 6.85 6.65
BNZ - Green Home Loan top-ups - - - 1.00
BNZ - Mortgage One 8.69 - - -
BNZ - Rapid Repay 8.69 - - -
BNZ - Std, FlyBuys 8.69 7.89 7.45 7.25
BNZ - TotalMoney 8.69 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - ▼7.09 - -
Co-operative Bank - Owner Occ 8.40 ▼7.29 6.89 6.75
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 ▼7.79 7.39 7.25
Credit Union Auckland 7.70 - - -
First Credit Union Special - 7.45 7.35 -
First Credit Union Standard 8.50 7.99 7.85 -
Heartland Bank - Online 7.99 6.69 6.45 6.19
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.60 7.40 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 7.05 6.85 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.79 7.59 7.29
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 8.35 7.89 7.65
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 7.35 6.89 6.75
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.90 7.39 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
Resimac - LVR < 80% 8.84 8.30 7.89 7.69
Lender Flt 1yr 2yr 3yr
Resimac - LVR < 90% 9.84 9.30 8.89 8.69
Resimac - Specialist Clear (Alt Doc) - - 8.99 -
Resimac - Specialist Clear (Full Doc) - - 9.49 -
SBS Bank 8.74 7.95 7.45 7.29
SBS Bank Special - 7.45 6.95 6.79
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 7.05 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 8.19 7.55 7.55
Lender Flt 1yr 2yr 3yr
TSB Special 8.64 7.39 6.75 6.75
Unity 8.64 6.99 6.85 -
Unity First Home Buyer special - - 6.45 -
Wairarapa Building Society 8.60 7.15 6.85 -
Westpac 8.64 7.89 7.49 7.25
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - 7.29 6.89 6.65
Median 8.64 7.45 7.37 6.77

Last updated: 4 March 2024 9:31am

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