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Fixing good value: Westpac

Westpac says fixing interest rates is likely to prove better value than floating over the next couple of years.

Monday, December 10th 2012, 12:00AM

by The Landlord

In its weekly commentary, released this morning, the bank's economists said: “Fixed-term rates out to two years are currently below floating rates, while three-year and longer fixed rates are only slightly higher.”

They said floating would only be the best option if the Reserve Bank was to cut the Official Cash Rate.

“While that’s a risk, our central view remains that the OCR will stay on hold for now, and increase steadily starting in the second half of next year.”

Governor Graeme Wheeler last week indicated that he still expects the next move in the OCR to be up, although not until 2014.

« Dumb lending caused bubble: RE/Max chiefEconomists surprised by Wheeler's optimistic tone »

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Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 4.44 - - -
AIA - Go Home Loans 6.89 5.25 4.99 5.35
ANZ 6.89 5.89 5.59 5.89
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 5.29 4.99 5.29
ASB Bank 6.89 5.25 4.99 5.35
ASB Better Homes Top Up - - - 1.00
Avanti Finance 7.40 - - -
Basecorp Finance 7.85 - - -
BNZ - Classic - 5.99 5.69 5.69
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One 7.04 - - -
BNZ - Rapid Repay 7.04 - - -
BNZ - Std 6.94 5.55 5.29 5.59
BNZ - TotalMoney 7.04 - - -
CFML 321 Loans ▼5.25 - - -
CFML Home Loans ▲6.95 - - -
CFML Prime Loans ▼7.45 - - -
CFML Standard Loans ▼8.25 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - ▼5.09 - -
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Owner Occ 6.45 ▼5.19 5.19 5.49
Co-operative Bank - Standard 6.45 ▼5.69 5.69 5.99
Credit Union Auckland 7.70 - - -
First Credit Union Special - 5.49 5.39 -
First Credit Union Standard 7.19 5.99 5.69 -
Heartland Bank - Online 6.49 5.25 5.19 5.35
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.15 6.35 6.00 -
ICBC 6.95 5.29 4.99 5.39
Kainga Ora 6.89 5.29 4.99 5.35
Kainga Ora - First Home Buyer Special - - - -
Lender Flt 1yr 2yr 3yr
Kiwibank 6.75 6.09 6.09 6.39
Kiwibank - Offset 6.75 - - -
Kiwibank Special 6.75 5.19 5.19 5.59
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 7.44 5.24 5.24 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
SBS Bank 6.99 6.29 6.09 6.19
SBS Bank Special - 5.39 5.29 5.35
SBS Construction lending for FHB - - - -
Lender Flt 1yr 2yr 3yr
SBS FirstHome Combo 4.44 4.39 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.39 - - -
TSB Bank 7.69 5.99 5.79 6.19
TSB Special 6.89 5.19 4.99 5.39
Unity 6.89 5.29 4.99 -
Unity First Home Buyer special - 4.69 - -
Wairarapa Building Society 7.20 5.49 5.29 -
Westpac 6.99 6.09 5.89 5.99
Westpac Choices Everyday 7.09 - - -
Westpac Offset 6.99 - - -
Lender Flt 1yr 2yr 3yr
Westpac Special - 5.49 5.29 5.39
Median 6.99 5.44 5.29 5.49

Last updated: 14 March 2025 5:56pm

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