Mortgage Rates Daily Commentary
Wednesday 1 April 2026
Big newsletter today: Top mortgage advisers; BNZ's new switching play; KAN dobs in adviser to FMA
With so much going on this is a much bigger newsletter than usual.
First up a big congrats to Josh Bronkhorst for being recognised by FANZ for his long involvement with financial advisers and helping to grow professionalism in the industry.
Also a shoutout to NZFSG/Loan Market for their work in community support.
You can read more about their awards and others who were recognised at last week's FANZ conference here.
BNZ has started a new game to win mortgage switches. We'd love to know you thoughts on this.
Read the story here.
Send us an email here.
The FMA has cancelled the FAP Licence of a mortgage adviser after being dobbed in by KAN. See what he did here.
Home loan market changes
A raft of changes in home loan rates in the past fortnight have changed the shape of the competitive market and the yield curve.
Saturday, May 24th 2008, 5:14PM
Good Returns has started compiling some series of graphs showing how the various groups are positioned against each other.
The three groups we have are:
-
Big banks: ANZ, ASB, BNZ, National and Westpac
-
Second tier banks: Kiwibank, Bank Direct, Kiwbank and HSBC
-
Non-bank lenders: Cairns Lockie, Sovereign, Pioneer, Wizard and PSIS.
The graph below shows the median rates for each of these groups over standard terms.
The key points are that big bank floating rates are significantly higher than the other two groups, while non-bank lenders struggle to compete at the long end of the curve with five year rates.
Recent economic news and competitive activity have "bent" the yield curve and put one and two year rates below longer term rates. Also it shows that the big banks have become very competitive in this space having the lowest median one year rates, while it sits between the other two groups for all the other fixed rate terms.
Commenting is closed
