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Mortgage Rates Daily Commentary
Friday 3 July 2020
TSB makes big rate cuts; Bank profits drop 20% This morning TSB has made some significant cuts to its home loan lineup. Its 18 month special falls by 30 basis points, and its six-month home loan drops by 40 basis points. See the latest rates here.
With record-low rates and Covid-19 to contend with, bank profits are taking a big hit this year. KPMG's latest report shows profits fell by 20% in the first quarter: [READ ON]
Comparing selected banks
Following a week of rate changes we have pulled together a graph comparing pricing strategies.
Friday, March 18th 2016, 10:04AM 
Here we have compared just five lenders who have taken different strategies to pricing their home loans. Also note this is just for standard rates. There are a range of Specials in the market too.
- HSBC - clearly it commands a market leading position in fixed rates, especially when its Specials are considered. However it is the only bank not to move its floating rate.
- Pricing remains in a tight band up to two years, but for longer terms there is greater divergence in pricing.
- SBS - While it often is a market leader, it's current pricing is a tad ordinary.
- ASB - Sharp on the one-year term but starts to look pricey further out the curve.
- BNZ - Continues to be reasonably aggressive compared to its big bank peers.
- Kiwibank - Sharp as usual except for standard two-year rates.
Tags: Mortgage Rates
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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 |
3.85 |
| ANZ Special |
- |
2.65 |
2.75 |
3.35 |
| 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 |
- |
2.65 |
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 |
2.79 |
2.79 |
3.39 |
| The Co-operative Bank - Standard |
4.40 |
3.29 |
3.29 |
3.89 |
| TSB Bank |
5.34 |
3.59 |
3.49 |
3.79 |
| TSB Special |
4.54 |
▼2.65 |
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 |
- |
▼2.65 |
2.69 |
2.79 |
| Median |
4.55 |
3.22 |
3.22 |
3.44 |
Last updated: 3 July 2020 8:15am Previous News
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Thursday, May 11th, 10:26AM
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Thursday, May 11th, 9:00AM
No change to OCR: What RB said today
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Monday, May 8th, 6:00AM
Focus on tone, not content, of OCR call this week
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Tuesday, May 2nd, 11:10AM
ANZ half-year profit jumps
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Monday, April 24th, 10:23AM
Local flavour makes for bank winners
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