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Mortgages

Mortgage Rates Daily Commentary
Thursday 11 July 2024  Add your comment
One bank cuts home loan rates

Westpac has cut three of its home loan terms between 10 and 25 basis points.

The biggest cut is to its one-year rate which is down to 6.89% and 7.49% for its Special and Standard rates respectively.

To see how it stacks up against other lenders check our table here where we have sorted on lowest to highest one-year rate.

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Latest Headlines

RBNZ holds OCR but turns unexpectedly dovish

Nobody expected the Reserve Bank to do anything other than hold its official cash rate steady at 5.5%, and that's exactly what it has just done.

Wednesday, July 10th, 3:22PM

However, the tone of today's statement was moderated somewhat from its very hawkish position in late May and it notes that it looks like inflation will return to within its 1% to 3% target during the second half of this year.

Previously, it had said this would happen in the final quarter of this year.

The Consumers Price Index was 4% in the year ended March and today's decision...MORE»

BREAKING: OCR 5.50% - Inflation Approaching Target Range

Wednesday, July 10th, 2:05PM  2 comments

The Monetary Policy Committee today agreed to maintain the Official Cash Rate at 5.50 percent.

MORE»

Expectation of Nov rate cuts prompts record short rate borrowing

Wednesday, July 10th, 10:19AM

Borrowers taking out mortgages for six months rose to a new high in May, in anticipation of interest rate cuts soon.

MORE»

 

Previous News

Reserve Bank expected to stick to its knitting

Monday, July 8th, 10:48AM

The Reserve Bank is not expected to give a dovish tilt at its Monetary Policy Review supporting the markets recent pricing of a 60% easing of the OCR in October with about 38 basis points priced in by the end of the year.

MORE»

Banks bringing OCR cut expectations forward

Friday, July 5th, 9:33AM

ASB is joining Kiwibank in expecting OCR cuts starting from November this year.

MORE»

Massive liberalisation of planning rules to end housing woes

Thursday, July 4th, 12:02PM

Housing minister Chris Bishop has revealed plans to “flood the market” with enough land to end the country’s housing crisis.

MORE»

New code brings commonsense to lending - FSF

Wednesday, July 3rd, 1:50PM

Lenders are happy the new Responsible Lending Code has landed with no nasty surprises.

MORE»

Inflation dragon slain; RBNZ needs to start cutting

Wednesday, July 3rd, 10:19AM

Interest rate cuts need to start soon as inflation has been beaten, BNZ economists say.

MORE»

MORE NEWS»

Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 6.19 - - -
AIA - Go Home Loans 8.74 7.14 6.75 6.39
ANZ 8.64 7.74 7.39 7.25
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 7.14 6.79 6.65
ASB Bank 8.64 7.14 6.75 6.39
ASB Better Homes Top Up - - - 1.00
Avanti Finance 9.15 - - -
Basecorp Finance 9.60 - - -
Bluestone 9.24 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - 7.14 6.79 6.65
BNZ - Green Home Loan top-ups - - - 1.00
BNZ - Mortgage One 8.69 - - -
BNZ - Rapid Repay 8.69 - - -
BNZ - Std, FlyBuys 8.69 7.74 7.39 7.25
BNZ - TotalMoney 8.69 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 6.79 - -
Co-operative Bank - Owner Occ 8.40 6.99 6.79 6.65
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 7.49 7.29 7.15
Credit Union Auckland 7.70 - - -
First Credit Union Special - 7.45 7.35 -
First Credit Union Standard 8.50 7.99 7.85 -
Heartland Bank - Online 7.99 6.89 6.55 6.35
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.60 7.40 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 7.05 6.69 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.74 7.35 6.99
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 7.99 7.79 7.55
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 6.99 6.79 6.65
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.65 7.25 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
SBS Bank 8.74 7.74 7.09 6.95
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 7.14 6.49 6.35
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 6.14 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 7.79 7.55 7.45
TSB Special 8.64 6.99 6.75 6.65
Unity 8.64 6.99 6.79 -
Unity First Home Buyer special - 6.55 6.45 -
Wairarapa Building Society 8.60 6.95 6.85 -
Lender Flt 1yr 2yr 3yr
Westpac 8.64 ▼7.49 7.35 6.99
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - ▼6.89 6.75 6.39
Median 8.64 7.14 6.82 6.65

Last updated: 11 July 2024 1:26pm

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