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Mortgages

Mortgage Rates Daily Commentary
Wednesday 28 October 2020  Add your comment
Mortgage lending record; ANZ slashes one year rate

Mortgage lending hit $7.3 billion in September, the highest value on record, according to the latest Reserve Bank data, as the market continues to defy expectations: [READ ON]

ANZ has followed the lead of Westpac and TSB and slashed its one year fixed special to 2.49%. Six and 18 month rates also fall. See all the latest mortgage rates here.

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ANZ grows mortgage book after sluggish quarters

ANZ Bank's mortgage book appears to have grown strongly in the March quarter after a number of quarters of very sluggish growth and its profitability soared.

Monday, May 23rd 2011, 8:52AM

by Jenny Ruth

ANZ's March quarter disclosure statement for its ANZ National Bank New Zealand subsidiary shows its mortgage book, including off-balance sheet ones - generally those approved but not drawn down - grew by $851 million to $46.94 billion in the three months.

While the overall picture of ANZ's New Zealand activities won't be known until it releases the disclosure statement for its New Zealand branch, the subsidiary's statement shows the branch held a further $9.99 billion in mortgages at March 31, down from $10.34 billion at December 31 last year.

That suggests the bank's overall mortgage growth in the quarter was $502 million - for the December quarter, ANZ's two statements showed only a minor discrepancy between figures derived this way and those disclosed in the branch's statement.

By the same measure, Westpac, the only other bank to have lodged its statement for the March quarter so far, grew its mortgage lending by $203 million to $39.95 billion.
ANZ National had $5.56 billion in off-balance sheet mortgages at March 31 compared with $5.53 billion at December 31 last year.

Its net profit for the quarter jumped to $233 million, up 87.9% from $124 million it reported in the March quarter last year.

The increase reflected a 71% drop in charges against profit for bad loans to $49 million from $169 million in the previous March quarter and a 7.5% increase in net interest income to $627 million from $583 million previously.

« Big Aussie banks get a downgradeOdds on earlier interest rate hike shorten »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 2.55 2.69 2.79
ANZ 4.44 ▼3.09 3.25 3.39
ANZ Special - ▼2.49 2.69 2.79
ASB Bank 4.45 2.55 2.69 2.79
Bluestone 3.49 3.49 3.49 3.49
BNZ - Classic - 2.55 2.69 2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 3.15 3.29 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 3.95 2.89 2.97 3.39
Heartland Bank - Online 2.95 1.99 2.35 2.45
Heretaunga Building Society 4.99 3.50 3.40 -
HSBC Premier 4.49 2.45 2.60 2.65
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 3.69 2.45 2.65 2.79
Kainga Ora 4.43 2.93 3.07 3.24
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 3.40 3.30 3.54 3.54
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.55 2.79 2.79
Liberty 5.69 - - -
Nelson Building Society 4.95 3.45 3.49 -
Pepper Essential 4.79 - - -
Resimac 3.39 3.35 2.99 3.35
Lender Flt 1yr 2yr 3yr
SBS Bank 4.54 3.05 2.99 2.99
SBS Bank Special - 2.55 2.49 2.49
The Co-operative Bank - First Home Special - - - -
The Co-operative Bank - Owner Occ 4.40 ▼2.49 2.69 2.79
The Co-operative Bank - Standard 4.40 ▼2.99 3.19 3.29
TSB Bank 5.34 3.29 3.45 3.59
TSB Special 4.54 2.49 2.65 2.79
Wairarapa Building Society 4.99 3.55 3.49 -
Westpac 4.59 ▼3.09 3.29 3.39
Westpac - Offset 4.59 - - -
Westpac Special - ▼2.49 2.69 2.79
Median 4.55 2.94 2.99 2.80

Last updated: 29 October 2020 5:00am

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