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Mortgages

Mortgage Rates Daily Commentary
Thursday 16 July 2020  Add your comment
ASB moves to single fixed rate card

ASB Bank has moved to a single fixed home loan rate card, charging all borrowers the same interest rates "irrespective of their equity levels": [READ ON]

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Details of Kiwibank's new home loan rates

Kiwibank is lowering its entire fixed rate card with some large changes especially for longer term home loans.

Thursday, October 27th 2011, 11:19PM

The changes come after Reserve Bank governor Alan Bollard left the official cash rate at its historical low of 2.50%.

In his announcement Bollard said the rate is likely to remain low for some time.

Kiwibank chief executive Paul Brock said the changes reflect an expectation that rates will stay low for the time being.

"We think that the right thing to do in this market is pass on the benefit of lower rates for all customers whenever we can," Brock said.

Kiwibank says that its capped variable rate limit remains at 6.50% for one year and its 30 month ‘off card' special of 5.99% remains for a few days.

Meanwhile Westpac has taken 10 points off its one year rate. Its new rate of 5.85% makes it the most competitive, in this term, amongst the big banks.

While the rate is well below its floating rate of 6.24%, Westpac has chosen to be competitive in this area with its Choices Everyday revolving home loan which is priced at 5.60%.

 

Old rates

Change

New Rates

6 month

5.75

-0.10

5.65

1 year

5.80

-0.15

5.65

2 years

6.30

-0.41

5.89

3 years

6.70

-0.31

6.39

4 years

7.30

-0.51

6.79

5 years

7.60

-0.41

7.19

« Bollard spooks marketsComparing rate cuts »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 ▼2.69 ▼2.69 ▼2.99
AIA Special - 2.69 2.69 2.99
ANZ 4.44 3.15 3.25 3.39
ANZ Special - 2.55 2.69 2.79
ASB Bank 4.45 ▼2.69 ▼2.69 ▼2.99
ASB Bank Special - 2.69 2.69 2.99
Bluestone ▼3.49 ▼3.49 ▼3.49 ▼3.49
BNZ - Classic - ▼2.55 2.69 2.99
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 3.25 3.29 3.59
Lender Flt 1yr 2yr 3yr
BNZ - TotalMoney 4.55 - - -
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 4.75 4.75 -
Credit Union South 5.65 4.75 4.75 -
First Credit Union Special 5.85 3.35 3.85 -
Heartland 3.95 2.89 2.97 3.39
Heartland Bank - Online - - - -
Heretaunga Building Society 4.99 4.35 4.45 -
HSBC Premier 4.49 2.60 2.65 2.80
Lender Flt 1yr 2yr 3yr
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 3.99 2.58 2.68 2.79
Kainga Ora 4.43 3.29 3.39 3.85
Kiwibank 3.40 3.40 3.54 4.00
Kiwibank - Capped - - - -
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.65 2.79 3.25
Liberty 5.69 - - -
Nelson Building Society 4.95 3.45 3.49 -
Pepper Essential 4.79 - - -
Lender Flt 1yr 2yr 3yr
Resimac 3.49 3.45 3.39 3.69
SBS Bank 4.54 3.29 3.19 3.49
SBS Bank Special - 2.79 2.69 2.99
The Co-operative Bank - Owner Occ 4.40 2.69 2.75 2.99
The Co-operative Bank - Standard 4.40 3.19 3.25 3.49
TSB Bank 5.34 3.35 3.49 3.79
TSB Special 4.54 2.55 2.69 2.99
Wairarapa Building Society 4.99 3.75 3.99 -
Westpac 4.59 4.15 4.09 4.49
Westpac - Offset 4.59 - - -
Westpac Special - ▼2.55 2.69 2.79
Median 4.55 3.17 3.22 3.12

Last updated: 16 July 2020 2:33pm

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