tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Friday, March 5th, 6:23PM

Mortgages

Mortgage Rates Daily Commentary
Friday 5 March 2021  Add your comment
New lending rules likely

There is a "high" probability of extra rules to curb house price inflation, such as DTIs and interest-only lending restrictions, according to economist Tony Alexander: [READ ON]

On the rate front, The Co-operative's four and five year home loans have edged up. Take a look at the latest rates here.

rss
Latest Headlines

More short-term rate falls

Weekly home loan report: The momentum of fixed rate cuts slowed last week, then picked up for the beginning of this week, with a plethora of one-year rate decreases emerging for the first time in ages.

Tuesday, February 21st 2006, 6:58AM

by Janine Ogier

Many lenders announced cuts over the weekend and Monday, with banks such as ASB, BNZ, Bank Direct and Kiwibank leading the way to trim short- and long-term rates.

NBNZ introduced a 21-month rate of 8.15% last week and cut it to 7.95% this week. National and ANZ dropped fixed rates over the week.

Amongst non-bank lenders, many decreases have been recorded too. Those cutting include Sovereign, Asteron, Argosy, Pioneer, Tasman, Resi, Mortgage Finance, Housing Corp, Olympic, AXA, NZ Finance and Pacific.

Public Trust’s announcement of lower rates was accompanied by some hoopla about the cut to its one-year fixed rate to 7.99%, down from 8.30%.

The move significantly undercuts those currently offered by the five major banks and is lower than Kiwibank. The closest rate of any bank is Bank Direct’s 8.35%.

It seems like a challenge to others to follow suit in the short-term market.

Twenty-one lenders trimmed their one-year rates over the week.

But the range of one-year rates remains between the 7.6% offered by Southern Cross to 9.1% from GEM Home Loans.

Elsewhere in the marketplace, variable rates still start at the 8.50% offered by Napier Building Society and spread to the 9.75% recorded by Headstart. The major banks are clustered at the 9.55% level.

Two-year fixed terms continue to be stacked between the 7.75% offered by Southern Cross to 9.25% from Headstart, but there were 20 decreases over the week.

Three-year rates now vary between the 7.6% offered by Kiwibank, Bank Direct and Mortgage Finance to Headstart’s 9.15%. Again, 20 lenders cut their rates.

In the four-year part of the market, Superbank offers the lowest rate of 7.8% and the competitors are now in a narrow range up to 8.15% from NZ Finance. There were six rate cuts and one increase.

For five years, rates now differ between the 7.45% offered by NZ Home Loans and Sovereign to Gem Home Loans’ 8.55%. There were 22 rate decreases.

« Kiwibank grows share of home loan pieTSB holds its own in mortgage war »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 2.29 2.59 2.65
ANZ 4.44 2.89 3.25 3.39
ANZ Special - 2.29 2.69 2.79
ASB Bank 4.45 2.29 2.59 2.65
Bluestone 3.49 3.34 2.99 3.34
BNZ - Classic - 2.29 2.59 2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 2.89 3.19 3.39
BNZ - TotalMoney 4.55 - - -
CFML Loans 4.95 - - -
Lender Flt 1yr 2yr 3yr
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 2.95 3.45 -
Heartland Bank - Online 2.50 1.99 2.35 2.45
Heretaunga Building Society 4.99 3.50 3.40 -
HSBC Premier 4.49 2.25 2.35 2.65
HSBC Premier LVR > 80% - - - -
HSBC Special - 1.99 - -
Lender Flt 1yr 2yr 3yr
ICBC 3.69 2.25 2.35 2.65
Kainga Ora 4.43 2.79 3.04 3.13
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 3.40 3.20 3.50 3.50
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.35 2.65 2.65
Liberty 5.69 - - -
Nelson Building Society 4.95 3.20 3.24 -
Pepper Essential 4.79 - - -
Resimac 3.39 3.35 2.99 3.35
SBS Bank 4.54 2.79 2.79 3.15
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 2.29 2.29 2.65
Select Home Loans 3.49 3.34 2.99 3.34
The Co-operative Bank - First Home Special - 2.09 - -
The Co-operative Bank - Owner Occ 4.40 2.29 2.59 2.79
The Co-operative Bank - Standard 4.40 2.79 3.09 3.29
TSB Bank 5.34 3.09 3.29 3.45
TSB Special 4.54 2.29 2.49 2.65
Wairarapa Building Society 4.99 3.55 3.49 -
Westpac 4.59 3.09 3.29 3.39
Westpac - Offset 4.59 - - -
Westpac Special - 2.29 2.69 2.79
Median 4.55 2.79 2.99 2.80

Last updated: 4 March 2021 8:47am

Previous News

MORE NEWS»

News Bites
Compare Mortgage Rates
Compare
From
To
For

To graph multiple lenders, hold down Ctrl key while clicking in list box

Also compare rates to OCR
Find a Mortgage Broker

Add your company

Use map
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com