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: Monday, March 1st, 6:03PM

Mortgages

Mortgage Rates Daily Commentary
Monday 1 March 2021  Add your comment
One bank steps back from advisers — another comes forward

While TSB is cutting adviser accreditations, another bank has launched a pilot programme with two dealer groups. Find out who here: [READ ON]

rss
Latest Headlines

Outlook for rate changes low

Weekly Home Loan report: The past week has been a relatively quiet one for rate changes in the home loan market. Also the latest figures from the Reserve Bank, released yesterday, show that the volume of lending is declining.

Wednesday, May 31st 2006, 8:59AM
The only bank to change rates during the week was Kiwibank which increased its short and long term fixed rates leaving the two and three year ones unchanged.

Among the non-bank lenders Argosy, CBS Canterbury, Mortgage Finance, NZ Mortgage Funds, PSIS and Tasman all increased rates.

The outlook for rate changes appears a little benign at the moment with rates in the wholesale markets remaining stable.

The only caveat to this observation is that global interest rates appear to be heading up, reflecting solid global growth momentum and rising global inflation pressure.

Central banks in the United States, Europe, Australia and Canada have all lifted rates recently and there is the possibility of further rises ahead.

In the United States attention is focussed on whether the Federal Reserve will again increase its rates.

The significance of these observations is that further increases offshore will, in all likelihood, mean longer term fixed home loan rates – particularly five year ones – will rise.

On the lending front the Reserve Bank said yesterday that the growth in mortgage lending fell from $1,762 million in March down to $1,251 million in April.

“Mortgage growth of 14.9% was recorded in the year to April, from 15.5% for the year to March.

This is the first time the annual rate of mortgage growth has fallen below 15% since September 2003.

“Mortgage growth is slowly easing from a peak of 17.4% for the year to April 2004. We expect a more marked moderation as the year progresses, as New Zealand households enter a period of balance sheet consolidation similar to that undertaken by their Australian colleagues 18 months ago,” ANZ economists say.

« TSB holds its market shareRate cuts looking more distant »

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: 26 February 2021 11:27am

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