Mortgage Rates Daily Commentary

ANZ increases all fixed rates; Borrowers on big mortgages

Home loan rate rises have started again with ANZ increasing its fixed home loan rates by 10 to 20-basis points across all terms.

Grant Knuckey, Managing Director for Personal Banking, said the increases in fixed rates were a response to rises in wholesale interest rates.

“As the global economy grapples with increased uncertainty amid conflict in the Middle East, wholesale rates have continued to climb.”
 

Big mortgages

More than 18,000 borrowers have mortgages of more than $2 million, a number that has grown rapidly – up from 5,000 in 2017, 6,000 in 2019 and 13,000 in 2022. [READ ON]

First ever Summit

Financial Advice NZ is rolling out its first ever Financial Advice Summit in Auckland with many international participants. Details here