tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Thursday, April 2nd, 10:34PM

Mortgages

Mortgage Rates Daily Commentary
Thursday 2 April 2020  Add your comment
Bank margins under pressure; Will advisers leave the industry?

Bank margins are under pressure amid record low interest rates and lenders may not be able to cut mortgage rates much further, according to a new report from KPMG: [READ ON]

Advisers who are new to the industry will be most likely to drop out due to Covid-19 economic disruption, industry commentators say: [READ ON]

rss
Latest Headlines

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 »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 3.55 3.89 3.99
AIA Special - 3.05 3.39 3.69
ANZ 4.44 3.55 3.85 4.49
ANZ Special - 3.05 3.35 3.99
ASB Bank 4.45 3.55 3.89 3.99
ASB Bank Special - 3.05 3.39 3.69
Bluestone 4.44 4.44 4.29 4.34
BNZ - Classic - 3.09 3.35 3.69
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 3.75 4.10 4.55
Lender Flt 1yr 2yr 3yr
BNZ - TotalMoney 4.55 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 3.15 3.15 3.19
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 3.95 2.89 2.97 3.39
Heartland Bank - Online - - - -
Lender Flt 1yr 2yr 3yr
Heretaunga Building Society 4.99 4.35 4.45 -
HSBC Premier 4.49 ▼2.95 ▼3.09 ▼3.50
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 3.94 4.08 4.39
Kiwibank 4.40 3.84 4.14 4.40
Kiwibank - Capped - - - -
Kiwibank - Offset 4.40 - - -
Kiwibank Special - 3.09 3.39 3.65
Liberty 5.69 - - -
Lender Flt 1yr 2yr 3yr
Napier Building Society - - - -
Nelson Building Society 4.95 ▼4.09 4.15 -
Pepper Money Near Prime 5.64 - 5.44 5.44
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 4.54 4.85 5.05 5.49
SBS Bank Special - ▼3.09 ▼3.39 ▼3.69
The Co-operative Bank - Owner Occ 4.40 3.25 3.45 3.69
The Co-operative Bank - Standard 4.40 3.75 3.85 4.19
Lender Flt 1yr 2yr 3yr
TSB Bank 5.34 ▼3.89 ▼4.15 ▼4.49
TSB Special 4.54 ▼3.09 ▼3.35 ▼3.69
Wairarapa Building Society 4.99 3.95 3.99 -
Westpac 4.59 4.15 4.09 4.49
Westpac - Offset 4.59 - - -
Westpac Special - 3.09 3.39 3.69
Median 4.60 3.65 3.89 3.99

Last updated: 31 March 2020 8:55am

Previous News

MORE NEWS»

News Bites
Compare Mortgage Rates
Compare
From
To
For

To graph multiple lenders, hold down Ctrl key while clicking in list box

Also compare rates to OCR
Find a Mortgage Broker

Add your company

Use map
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com