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Mortgage Rates Daily Commentary
Wednesday 23 July 2025
FHBs defy the odds – record share of purchases despite higher mortgage costs First home buyers are more active than ever, snapping up over a quarter of all property sales in Q2 – and that’s creating more deal flow for brokers, especially in markets like Wellington, Hamilton and Auckland. [READ ON]
Reserve Bank raises official cash rate (OCR) to 8.25%
Reserve Bank Governor Alan Bollard said: "The New Zealand economy is running strong. We are recording continued big increases in international commodity prices, especially dairy, reflecting solid world demand for our products.
Thursday, July 26th 2007, 8:44AM
Reserve Bank Governor Alan Bollard said: "The New Zealand economy is running strong. We are recording continued big increases in international commodity prices, especially dairy, reflecting solid world demand for our products.
"This is very good news for New Zealand. Given this positive situation, some of the negative commentary circulating about the economy is unwarranted.
"However, the continued tight labour market, high capacity use, and rising oil and food prices all point to sustained inflationary pressures. That is why we are increasing the OCR today.
"The New Zealand dollar has reached very high levels recently, driven by US dollar weakness and New Zealanders' heavy demand for borrowing. This level of the currency has been hurting exports.
"The high New Zealand dollar is not sustainable medium term and investors should understand this. The higher OCR now gives strong incentives to New Zealanders to save.
"New Zealanders have been showing early signs of moderating their borrowing.
Provided they keep this up, and the pressure on resources continues to ease, we think the four successive OCR increases we have delivered will be sufficient to contain inflation."
Commenting is closed
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Mortgage Rates Table
Full Rates Table | Compare Rates
Lender |
Flt |
1yr |
2yr |
3yr |
AIA - Back My Build |
4.44 |
- |
- |
- |
AIA - Go Home Loans |
6.54 |
4.89 |
4.95 |
5.09 |
ANZ |
6.49 |
5.55 |
5.55 |
5.69 |
ANZ Blueprint to Build |
7.39 |
- |
- |
- |
ANZ Good Energy |
- |
- |
- |
1.00 |
ANZ Special |
- |
4.95 |
4.95 |
5.09 |
ASB Bank |
6.44 |
4.89 |
4.95 |
5.09 |
ASB Better Homes Top Up |
- |
- |
- |
1.00 |
Avanti Finance - Near Prime |
6.90 |
- |
- |
- |
Avanti Finance - Specialised |
8.34 |
- |
- |
- |
Basecorp Finance |
7.15 |
- |
- |
- |
Lender |
Flt |
1yr |
2yr |
3yr |
BNZ - Classic |
- |
5.99 |
5.69 |
5.69 |
BNZ - Mortgage One |
6.54 |
- |
- |
- |
BNZ - Rapid Repay |
6.54 |
- |
- |
- |
BNZ - Std |
6.44 |
4.89 |
4.95 |
5.09 |
BNZ - TotalMoney |
6.54 |
- |
- |
- |
CFML 321 Loans |
4.99 |
- |
- |
- |
CFML Home Loans |
6.70 |
- |
- |
- |
CFML Prime Loans |
7.20 |
- |
- |
- |
CFML Standard Loans |
7.99 |
- |
- |
- |
China Construction Bank |
6.44 |
4.85 |
4.95 |
4.95 |
China Construction Bank Special |
6.44 |
5.85 |
5.95 |
5.95 |
Lender |
Flt |
1yr |
2yr |
3yr |
Co-operative Bank - First Home Special |
- |
4.85 |
- |
- |
Co-operative Bank - Owner Occ |
5.95 |
4.95 |
4.99 |
5.25 |
Co-operative Bank - Standard |
5.95 |
5.45 |
5.49 |
5.75 |
Credit Union Auckland |
7.70 |
- |
- |
- |
First Credit Union Special |
- |
5.29 |
5.19 |
- |
First Credit Union Standard |
6.94 |
5.79 |
5.49 |
- |
Heartland Bank - Online |
5.99 |
5.89 |
- |
- |
Heartland Bank - Reverse Mortgage |
- |
- |
- |
- |
Heretaunga Building Society |
7.45 |
5.90 |
5.80 |
- |
ICBC |
6.50 |
4.85 |
4.95 |
5.05 |
Kainga Ora |
6.44 |
4.89 |
4.95 |
5.09 |
Lender |
Flt |
1yr |
2yr |
3yr |
Kainga Ora - First Home Buyer Special |
- |
- |
- |
- |
Kiwibank |
6.35 |
5.79 |
5.85 |
5.95 |
Kiwibank - Offset |
6.35 |
- |
- |
- |
Kiwibank Special |
- |
4.89 |
4.95 |
5.15 |
Liberty |
6.90 |
6.80 |
6.50 |
6.45 |
Nelson Building Society |
6.94 |
4.99 |
4.93 |
- |
Pepper Money Near Prime |
6.85 |
- |
- |
- |
Pepper Money Prime |
6.29 |
- |
- |
- |
Pepper Money Specialist |
8.30 |
- |
- |
- |
SBS Bank |
6.49 |
5.49 |
5.55 |
5.69 |
SBS Bank Special |
- |
4.89 |
4.95 |
5.09 |
Lender |
Flt |
1yr |
2yr |
3yr |
SBS Construction lending for FHB |
3.94 |
- |
- |
- |
SBS FirstHome Combo |
- |
4.29 |
- |
- |
SBS FirstHome Combo |
- |
- |
- |
- |
SBS Unwind reverse equity |
8.64 |
- |
- |
- |
TSB Bank |
7.19 |
5.69 |
5.75 |
6.09 |
TSB Special |
6.39 |
4.89 |
4.95 |
5.29 |
Unity First Home Buyer special |
- |
4.29 |
- |
- |
Unity Special |
6.64 |
4.99 |
4.99 |
- |
Unity Standard |
6.64 |
5.79 |
5.79 |
- |
Wairarapa Building Society |
6.75 |
5.09 |
4.95 |
- |
Westpac |
6.59 |
5.49 |
5.55 |
5.59 |
Lender |
Flt |
1yr |
2yr |
3yr |
Westpac Choices Everyday |
6.69 |
- |
- |
- |
Westpac Offset |
6.59 |
- |
- |
- |
Westpac Special |
- |
4.89 |
4.95 |
4.99 |
Median |
6.56 |
4.99 |
4.99 |
5.15 |
Last updated: 10 July 2025 4:59pm Previous News
-
Thursday, September 28th, 9:00AM
RBNZ announces OCR decision
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Tuesday, August 1st, 11:19AM
SBS eyes partnership with mortgage advisers
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Thursday, June 22nd, 9:00AM
OCR held again - here's what RBNZ had to say
-
Thursday, May 11th, 10:26AM
Surprise at RBNZ’s OCR outlook
-
Thursday, May 11th, 9:00AM
No change to OCR: What RB said today
-
Monday, May 8th, 6:00AM
Focus on tone, not content, of OCR call this week
-
Tuesday, May 2nd, 11:10AM
ANZ half-year profit jumps
-
Monday, April 24th, 10:23AM
Local flavour makes for bank winners
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