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Mortgage Rates Daily Commentary
Monday 25 November 2024
All eyes on interest rates for the next two years Aside from the expected RBNZ 0.50% OCR drop on Wednesday, economists are expecting a thorough update of where it sees interest rates going over the next two years. [READ ON]
Westpac raises fixed term interest rates
Westpac has blinked first in the home loan interest rate war, upping its fixed term interest rates for 18 month and 30 month loans.
Friday, December 17th 2004, 1:09PM
Westpac has blinked first in the home loan interest rate war, upping its fixed term interest rates for 18 month and 30 month loans.
"As signalled earlier in the month, in the wake of the Reserve Bank of New Zealand's view of the likely future course of the Official Cash Rate (OCR), Westpac believes that the current `price war' is not sustainable and that a lead needs to be taken in returning fixed rates to more long-term, sustainable levels," the bank said in a statement.
Westpac's 18 month rate will rise 0.41% to 7.40% per annum while the 30 month rate will go up 0.46% to 7.65%.
Westpac's two-year rate of 7.40% remained unchanged.
The new rates become effective as of 5pm today.
The Bank of New Zealand sparked the price war in October with an `Unbeatable' campaign, which has seen its two-year fixed rate fall to 6.9%, while ASB and ANZ both dropped their two-year rates to 6.95%.
Commenting is closed
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Mortgage Rates Table
Full Rates Table | Compare Rates
| Lender |
Flt |
1yr |
2yr |
3yr |
|---|
| AIA - Back My Build |
5.44 |
- |
- |
- |
| AIA - Go Home Loans |
7.99 |
5.99 |
5.69 |
5.69 |
| ANZ |
7.89 |
6.59 |
6.29 |
6.29 |
| ANZ Blueprint to Build |
7.39 |
- |
- |
- |
| ANZ Good Energy |
- |
- |
- |
1.00 |
| ANZ Special |
- |
5.99 |
5.69 |
5.69 |
| ASB Bank |
7.89 |
5.99 |
5.69 |
5.69 |
| ASB Better Homes Top Up |
- |
- |
- |
1.00 |
| Avanti Finance |
8.40 |
- |
- |
- |
| Basecorp Finance |
9.60 |
- |
- |
- |
| BNZ - Classic |
- |
5.99 |
5.69 |
5.69 |
| Lender |
Flt |
1yr |
2yr |
3yr |
|---|
| BNZ - Mortgage One |
7.94 |
- |
- |
- |
| BNZ - Rapid Repay |
7.94 |
- |
- |
- |
| BNZ - Std |
7.94 |
5.99 |
5.69 |
5.69 |
| BNZ - TotalMoney |
7.94 |
- |
- |
- |
| CFML 321 Loans |
6.20 |
- |
- |
- |
| CFML Home Loans |
6.45 |
- |
- |
- |
| CFML Prime Loans |
8.25 |
- |
- |
- |
| CFML Standard Loans |
9.20 |
- |
- |
- |
| China Construction Bank |
- |
7.09 |
6.75 |
6.49 |
| China Construction Bank Special |
- |
- |
- |
- |
| Co-operative Bank - First Home Special |
- |
5.79 |
- |
- |
| Lender |
Flt |
1yr |
2yr |
3yr |
|---|
| Co-operative Bank - Owner Occ |
7.65 |
5.99 |
5.75 |
5.69 |
| Co-operative Bank - Standard |
7.65 |
6.49 |
6.25 |
6.19 |
| Credit Union Auckland |
7.70 |
- |
- |
- |
| First Credit Union Special |
- |
6.40 |
6.10 |
- |
| First Credit Union Standard |
8.50 |
7.00 |
6.70 |
- |
| Heartland Bank - Online |
7.49 |
5.65 |
5.55 |
5.55 |
| Heartland Bank - Reverse Mortgage |
- |
- |
- |
- |
| Heretaunga Building Society |
▼8.60 |
6.75 |
6.40 |
- |
| ICBC |
7.49 |
5.99 |
5.65 |
5.59 |
| Kainga Ora |
8.39 |
7.05 |
6.59 |
6.49 |
| Kainga Ora - First Home Buyer Special |
- |
- |
- |
- |
| Lender |
Flt |
1yr |
2yr |
3yr |
|---|
| Kiwibank |
7.75 |
6.89 |
6.59 |
6.49 |
| Kiwibank - Offset |
8.25 |
- |
- |
- |
| Kiwibank Special |
7.75 |
5.99 |
5.69 |
5.69 |
| Liberty |
8.59 |
8.69 |
8.79 |
8.94 |
| Nelson Building Society |
8.44 |
5.95 |
6.09 |
- |
| Pepper Money Advantage |
10.49 |
- |
- |
- |
| Pepper Money Easy |
8.69 |
- |
- |
- |
| Pepper Money Essential |
8.29 |
- |
- |
- |
| SBS Bank |
7.99 |
6.95 |
6.29 |
6.29 |
| SBS Bank Special |
- |
6.15 |
5.69 |
5.69 |
| SBS Construction lending for FHB |
- |
- |
- |
- |
| Lender |
Flt |
1yr |
2yr |
3yr |
|---|
| SBS FirstHome Combo |
5.44 |
5.15 |
- |
- |
| SBS FirstHome Combo |
- |
- |
- |
- |
| SBS Unwind reverse equity |
9.75 |
- |
- |
- |
| TSB Bank |
8.69 |
6.49 |
6.49 |
6.49 |
| TSB Special |
7.89 |
5.69 |
5.69 |
5.69 |
| Unity |
7.64 |
5.99 |
5.69 |
- |
| Unity First Home Buyer special |
- |
5.49 |
- |
- |
| Wairarapa Building Society |
8.10 |
6.05 |
5.79 |
- |
| Westpac |
8.39 |
6.89 |
6.39 |
6.39 |
| Westpac Choices Everyday |
8.49 |
- |
- |
- |
| Westpac Offset |
8.39 |
- |
- |
- |
| Lender |
Flt |
1yr |
2yr |
3yr |
|---|
| Westpac Special |
- |
6.29 |
5.79 |
5.79 |
| Median |
7.99 |
6.02 |
5.79 |
5.69 |
Last updated: 20 November 2024 9:45am Previous News
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