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Mortgage Rates Daily Commentary
Saturday 24 August 2024  Add your comment
Your Weekend Read: What you need to know about the ComCom report; Bluestone departs (again)

Here is a good weekend read for you. It's a deep dive into the Commerce Commission report looking at what it means for mortgage advisers.

What is being proposed is certainly interesting and could change the way mortgage advisers operate in the future.

You can read it here

Bluestone throws its chips in (again)

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A few smiles for spring

Confidence is picking up for the huge Auckland housing market, in spite of a tough winter and extremely low house sales nationwide.

Thursday, October 19th 2000, 9:14AM

by Paul McBeth

Confidence is picking up for the huge Auckland housing market in spite of a tough winter and extremely low house sales nationwide

The latest market outlook survey by Massey University's Real Estate Analysis Unit found that 25 per cent of those questioned now expect the Auckland residential property market to improve over the next six months. Just five per cent expect it to deteriorate and the remaining 70 per cent expect it to stay the same.

That mightn't sound too impressive, but it's a major lift from the June doldrums when a massive 39 per cent expected the market to get worse and only seven per cent picked an upturn. The latest improvement is being put down to seasonal expectations - that is, a upbeat mood for spring and summer - and the recent easing in mortgage rates.

Meanwhile, house sales took a pounding last month: just 5017 were sold throughout the country compared with 6293 for September 1999. The Real Estate Institute said this was the lowest monthly total so far this year - and July's 5168 sales were already a 12-year low for that month.

However, while sales were down, house values were holding firm or even improving in some areas. The national median sales price for the September quarter was $3,000 higher than the June quarter at $173,000.

 

Massey's surveys are based on questionnaires sent quarterly to a group of bankers, lawyers, estate agents, valuers and others involved in the local housing market.

 

Paul is a staff writer for Good Returns based in Wellington.

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build ▼5.94 - - -
AIA - Go Home Loans 8.49 ▼6.45 ▼5.89 ▼5.79
ANZ 8.39 ▼7.05 ▼6.59 ▼6.49
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - ▼6.45 ▼5.99 ▼5.89
ASB Bank 8.39 ▼6.45 ▼5.89 ▼5.79
ASB Better Homes Top Up - - - 1.00
Avanti Finance ▼8.90 - - -
Basecorp Finance 9.60 - - -
Bluestone 9.24 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - ▼6.55 ▼5.99 ▼5.89
BNZ - Mortgage One 8.44 - - -
BNZ - Rapid Repay 8.44 - - -
BNZ - Std 8.44 ▼6.55 ▼5.99 ▼5.89
BNZ - TotalMoney 8.44 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - ▼6.19 - -
Co-operative Bank - Owner Occ ▼8.15 ▼6.39 ▼5.99 5.99
Co-operative Bank - Standard ▼8.15 ▼6.89 ▼6.49 6.49
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 7.70 - - -
First Credit Union Special - 6.99 6.60 -
First Credit Union Standard 8.50 7.59 7.20 -
Heartland Bank - Online 7.99 6.69 6.35 6.15
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.35 7.00 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 ▼6.45 ▼5.99 ▼5.89
Kainga Ora 8.64 7.45 7.09 6.89
Lender Flt 1yr 2yr 3yr
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.25 ▼7.35 ▼6.89 ▼6.69
Kiwibank - Offset 8.25 - - -
Kiwibank Special - ▼6.45 ▼5.99 ▼5.89
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.14 6.79 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
SBS Bank ▼8.49 ▼7.19 ▼6.49 ▼6.49
SBS Bank Special - ▼6.59 ▼5.89 ▼5.89
Lender Flt 1yr 2yr 3yr
SBS Construction lending for FHB - - - -
SBS FirstHome Combo ▼5.94 ▼5.59 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank ▼9.19 7.49 7.05 6.79
TSB Special ▼8.39 6.69 6.25 5.99
Unity 8.64 6.70 6.49 -
Unity First Home Buyer special - 6.20 - -
Wairarapa Building Society 8.60 ▼6.80 ▼6.50 -
Westpac 8.39 7.45 6.79 6.59
Lender Flt 1yr 2yr 3yr
Westpac Choices Everyday 8.49 - - -
Westpac Offset 8.39 - - -
Westpac Special - 6.85 6.19 5.99
Median 8.46 6.75 6.49 5.99

Last updated: 22 August 2024 9:14am

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