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Last Article Uploaded: Saturday, November 17th, 11:53AM
Mortgage Rates Daily Commentary
Friday 16 November 2018  Add your comment
Banks do the limbo

It's been a pretty eventful week with most of the banks getting into the summer spirit and doing the limbo with interest rates. We've seen record low fixed interest rates set by a number of banks during the week. The only two not to join the party are Kiwibank and BNZ; however we are hearing stories that Kiwibank are writing loans under 4%. The irony is Kiwibank started the sub-4% dance in mid-August. 

Its relatively-new CEO Steve Jurkovich did say earlier this year he was "not a massive fan of being rates driven". See here

To get a good look at how the one-year term is looking we have the table sorted lowest to highest here.

Westpac have put out its latest Home Truths report and says that house prices will rise over summer and begin to fall in 2020. [READ ON]

 

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Latest Headlines

Long term house price outlook negative: Westpac

Current low interest rates are likely to sustain house price growth in the near term, but rising rates from 2020 onwards will trigger a fall in the market, economists at Westpac have warned.

Thursday, November 15th, 10:20AM

Westpac chief economist Dominick Stephens, writing in the bank’s monthly Home Truths report, said the short term outlook on prices was broadly positive, but added the long term picture was decidedly less rosy.

Stephens predicted interest rates would rise rapidly in the early part of the next decade: “We remain convinced that mortgage rates will eventually rise significantly....MORE»

LVR loosening under review: Bascand

Wednesday, November 14th, 10:45AM

Reserve Bank deputy governor Geoff Bascand says the central bank is assessing whether current LVR restrictions are appropriate, following a stabilisation in house prices and bank credit tightening.

MORE»

Harmoney reaches $1 billion in lending

Tuesday, November 13th, 10:35AM

Peer to peer lender Harmoney has cracked the $1 billion in lending mark with debt consolidation being the biggest use of funds.

MORE»

 

Previous News

BNZ joins the under-4s

Monday, November 12th, 12:49PM

BNZ has followed ANZ and is now offering a fixed home loan rate under 4%

MORE»

ANZ takes rates below 4%

Saturday, November 10th, 11:41AM

ANZ has announced its lowest home lending interest rates on record – 3.95% for a fixed one-year term.

MORE»

Global recognition for Kiwi mortgage fintech firm

Friday, November 9th, 10:14AM

Mortgage fintech company Valocity, whose platform links borrowers, advisers and banks with property valuers, has been nominated for a prestigious global technology award.

MORE»

OCR reaction: cut less likely and rates to stay low

Thursday, November 8th, 9:34AM

Economists believe the Reserve Bank has adopted a slightly more hawkish stance on the OCR, but say the unchanged forecast suggests a continued low interest rate environment.

MORE»

What the RBNZ said today

Thursday, November 8th, 9:00AM

The Official Cash Rate (OCR) remains at 1.75%. We expect to keep the OCR at this level through 2019 and into 2020.

MORE»

MORE NEWS»

Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.79 4.45 4.79 4.99
ANZ Special - 3.95 4.29 4.49
ASB Bank 5.80 ▼4.44 4.69 ▲4.89
ASB Bank Special - ▼3.95 4.29 ▲4.49
BNZ - Mortgage One 6.50 - - -
BNZ - Rapid Repay 5.95 - - -
BNZ - Special - 4.15 ▼3.99 4.49
BNZ - Std, FlyBuys 5.90 4.69 4.79 4.99
BNZ - TotalMoney 5.90 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.15 5.20 5.25 -
Lender Flt 1yr 2yr 3yr
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.70 4.85 -
Housing NZ Corp 5.80 4.69 4.79 4.79
HSBC Premier 5.89 3.99 4.19 4.69
HSBC Premier LVR > 80% - 3.85 - -
HSBC Special - - - -
Lender Flt 1yr 2yr 3yr
ICBC 5.80 4.59 4.69 5.09
Kiwibank 5.80 4.55 4.69 4.99
Kiwibank - Capped - - - -
Kiwibank - Offset 5.80 - - -
Kiwibank Special - 4.05 4.19 4.49
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 6.10 5.10 5.45 -
Resimac 5.30 4.86 4.94 5.30
RESIMAC Special - - - -
SBS Bank 5.89 4.85 5.05 4.49
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 4.19 3.95 4.49
Sovereign 5.90 ▼4.45 4.69 ▲4.89
Sovereign Special - ▼3.95 4.29 ▲4.49
The Co-operative Bank - Owner Occ 5.75 ▼4.10 4.35 4.49
The Co-operative Bank - Standard 5.75 ▼4.60 4.85 4.99
TSB Bank 5.80 ▼4.45 4.69 4.99
TSB Special - ▼3.95 4.19 4.49
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.95 4.69 4.79 5.19
Westpac - Offset 5.95 - - -
Westpac Special - ▼3.95 4.29 4.49
Median 5.89 4.45 4.69 4.79

Last updated: 15 November 2018 10:05am

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