Mortgage Rates Daily Commentary
Thursday 4 December 2025
Good house buying conditions, but little activity; What's going on?
Experts consider it's a good time to be buying a house with lots of indicators pointing in the right direction; but sales are not picking up.
What's going on?
It was great to attend Loan Market's recent PD day and Christmas celebration. The group is on a strong growth path to becoming New Zealand's best known mortgage advice brand. It's also got some exciting developments in train. You can find out more about the Loan Market offering here.
Mortgage rates keep tumbling
Significant savings made from falling mortgage rates.
Wednesday, June 11th 2003, 9:30PM
Subscribers to the highly-popular
Good Returns daily mortgage rate newsletter will be in no doubt that interest rates have been falling across the board in the past week since the Reserve Bank cut the Official Cash Rate.
The Real Estate Institute of New Zealand has praised the RBNZ for lowering the OCR a second time, this year saying the move is, "a positive approach to monetary policy."
Its latest interest rate survey confirms that most lending institutions have amended their one to five year fixed rates in the month to June 10. Twelve of the 15 institutions surveyed dropped their fixed rates between 0.10 and 0.41%, with most fixed rates dropping by 0.25 to 0.35%.
Floating rates also eased, many of the floating rates on offer falling by 0.24 to 0.50%.
REINZ National President, Graeme Woodley said the fact that the Reserve Bank appeared willing to lower the OCR a second time in order to limit the impact of recessionary forces and stimulate economic growth was welcome news for all homeowners.
"In a period where home values have continued to appreciate, the lower mortgage interest rate environment has had a positive impact on home affordability," he says.
"In real terms, the typical 5-year fixed interest rate in June 2002 was 8.45%, which on a $200,000 loan over 25 years equated to fortnightly repayments of $739.77. In the latest survey, the typical 5-year fixed rate is 6.85%, lowering those repayments to $643.23 per fortnight."
As of June 10, floating rates ranged between 6.65 and 7.60%. One year fixed rates ranged between 6.00 and 6.40%, two year fixed rates ranged between 6.20 to 6.50%, three year fixed rates ranged between 6.45 to 6.60%, and four and five year rates ranged between 6.60 to 6.85%.
To see who is offering what rate and to sort them in order go to the Good Returns Mortgage Rate page HERE.
SUBSCRIBE to the daily Mortgage Rates Newsletter HERE.
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