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Mortgage Rates Daily Commentary
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Comparing rate cuts

Westpac and Kiwibank have moved quickly after last week's official cash rate announcement and lowered all their fixed rates. Here we compare the changes to see which one has gone the lowest.

Monday, October 31st 2011, 9:11AM

Westpac has taken on Kiwibank and cut all its fixed rates following last week's OCR announcement.

Both have made significant cuts with Kiwibank taking between 10 and 51 points off its rates and Westpac ranging from 16 to 45 points.

However the most noticable difference is that Westpac has chosen to take the lead in the shorter term rates with its six month and one year rate being better than Kiwibank.

They both have a two-year rate of 5.89% and in the longer term maturities Kiwibank has the sharper rates.

Neither have made changes to their floating rates.

This is the second cut Westpac has made to its one year rate. It took 10 points off it on Thursday and another 26 points off in this round.



Kiwibank

Westpac


Old rates

Change

New Rates

Change

New Rates

6 month

5.75

-0.10

5.65

-0.16

5.59

1 year

5.80

-0.15

5.65

-0.26

5.59

18 months




-0.31

5.89

2 years

6.30

-0.41

5.89

-0.41

5.89

3 years

6.70

-0.31

6.39

-0.25

6.45

4 years

7.30

-0.51

6.79

-0.45

6.85

5 years

7.60

-0.41

7.19

-0.35

7.25

« Details of Kiwibank's new home loan ratesRWC finishes; rate war battle commences »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.19 4.05 4.05 4.49
ANZ Special - 3.55 3.55 3.99
ASB Bank 5.20 3.89 4.05 4.39
ASB Bank Special - 3.39 3.55 3.89
BNZ - Classic - 3.49 3.55 3.89
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 3.19 3.19 3.19
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 5.95 - - -
Credit Union Baywide 5.65 4.75 4.75 -
Credit Union North 6.45 - - -
Credit Union South 5.65 4.75 4.75 -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 ▼4.65 ▼4.80 -
HSBC Premier 5.24 3.54 3.54 3.69
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 3.97 4.05 4.39
Kiwibank ▼5.15 4.20 4.30 4.64
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - 3.45 3.55 3.89
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.25 4.15 -
Pepper Money Near Prime 5.64 - 5.44 5.44
Lender Flt 1yr 2yr 3yr
Pepper Money Prime 5.18 - 4.98 4.98
Pepper Money Specialist 7.59 - 7.39 7.39
Resimac 4.50 ▼4.45 3.89 3.94
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - 3.39 ▲3.55 3.89
Sovereign 5.30 3.89 4.05 4.39
Sovereign Special - 3.39 3.55 3.89
The Co-operative Bank - Owner Occ 5.15 3.49 3.59 3.89
The Co-operative Bank - Standard 5.15 3.99 4.09 4.39
TSB Bank 6.09 4.19 4.35 4.69
Lender Flt 1yr 2yr 3yr
TSB Special 5.29 3.39 3.55 3.89
Wairarapa Building Society ▼5.50 ▼3.95 ▼4.05 -
Westpac 5.34 4.15 4.09 4.49
Westpac - Offset 5.34 - - -
Westpac Special - 3.39 3.55 3.99
Median 5.34 3.97 4.05 4.39

Last updated: 24 January 2020 8:55am

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