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Mortgages

Mortgage Rates Daily Commentary
Monday 13 July 2020  Add your comment
New digital edition of TMM out now; Disappointment at tenancy reforms

The latest digital edition of TMM is now available online. We look at how technology will transform the advice sector, and what banks are doing to improve the adviser and customer experience: [READ HERE]

Meanwhile, property professionals have expressed disappointment at the Select Committee report on the Government’s proposed tenancy law reforms: [READ ON]

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10-year rates welcomed

New 10-year fixed rates are being hailed as good news for property investors.

Saturday, February 7th 2015, 10:28AM

TSB announced this week that it was offering the long-term rates.

It is believed to be the longest fixed rate ever offered in New Zealand.

To qualify for the 5.89% rate, buyers must have a 20% deposit.

TSB chief executive Kevin Murphy said the bank was responding to a gap in the market.

"To know what your interest rate will be and you can budget on that for a longer period - for people who need to manage their incomes closely, I think this will be very attractive.”

The rate will be able to be transferred if the property is sold to buy another.

BNZ offers a seven-year fixed rate but it is much higher, at 6.89%.

Broker David Windler said the TSB move was a welcome one and would give investors certainty. “It gives them a point of difference, investors will like it.”

He expected more fixed rate cuts over the next few days.

Tags: Mortgage Rates TSB

« 10-year fixed rates come to the marketASB reports strong profit but dip in home loan market share »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 3.19 3.19 3.49
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 3.19 3.19 3.49
ASB Bank Special - 2.69 2.69 2.99
Bluestone 4.44 4.44 4.44 4.44
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 - - - -
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 3.19 3.22 3.39

Last updated: 13 July 2020 7:38am

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