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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.

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Impact of removal of trail commissions 3yrs away

Last year a number of banks removed trail commissions paid to brokers on new home loans, but the financial impact of the change may take three years to show up.

Thursday, August 10th 2006, 2:15AM
Mike Pero Mortgages (MPM) chief executive Jeff Staniland told the company’s annual meeting yesterday that “we are yet to see the full financial impact of these changes on our financial performance.”

“It may be over three years before the impact of the changes in remuneration structure are apparent.”

He says that in the last financial year (nine months) the company arranged $1.2 billion of mortgages, which, on an annualised basis equates to $1.5 billion, compared to $1.3 billion in the year to June 2005.

MPM has grown the number of franchisees to 44 during the year, and the total number of mortgage brokers has increased to 57.

During the year the company sold one new franchise in South Canterbury. This sale has nearly completed the roll out of the Mike Pero brand in regional New Zealand that MPM embarked upon 18 months ago.

Staniland says the focus “now turns to increasing the productivity of our franchisee mortgage brokers and also to leveraging their success and encouraging them to expand their businesses by engaging loan writers to work for them.”

“One initiative to increase productivity is the introduction of new mortgage broking software. We are currently in the process of implementing a software package which should help our franchisees be more productive by providing greater customer relationship management functionality.

Staniland say there is uncertainty over the company's future ownership structure, but the MPM is taking a "business as usual" approach.

“The company is well positioned for on-going growth both organically from the improved productivity of our existing brokers and by the addition of more franchisees and loan writers. This combined with our on-going marketing efforts, a greater focus on repeat and referral business together with the strong Mike Pero brand should ensure we continue to play a leading role in the mortgage origination market.

« Rates start easingWelcome home loan scheme extended »

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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

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