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Latest Mortgage Rates

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  • To find the best rate use the arrows to sort the table in ascending/descending order.
  • Find out more about a lender by clicking on their logo.
  • To graph comparisons click here
  • This week's rate changes are highlighted

Show changes from the last:

Show these lender types:

Mortgage Lender Floating 6 mth 1 year 18 mth 2 years 3 years 4 years 5 years RC
AMP Home Loans 6.24 4.79 5.25 - 4.99 5.65 5.99 5.99 5.60
AMP Home Loans $200k+ 6.14 4.69 5.15 - 4.89 5.55 5.89 5.89 5.50
ANZ 5.74 5.45 ▼4.95 5.49 5.45 5.80 6.10 6.30 5.85
ASB Bank 5.75 5.45 5.19 5.45 5.45 5.75 5.95 6.25 5.75
BankDirect 5.75 5.45 5.45 5.45 5.45 5.75 5.95 6.25 5.75
BNZ - Classic - - 4.95 - 5.40 - - - -
BNZ - GlobalPlus 5.99 5.25 5.25 5.50 5.65 5.80 6.10 6.30 -
BNZ - Mortgage One 6.40 - - - - - - - 6.40
BNZ - Rapid Repay 5.99 - - - - - - - 5.99
BNZ - Std, FlyBuys 5.99 5.25 5.25 - 5.65 5.80 6.10 6.30 -
BNZ - TotalMoney 5.74 - - - - - - - -
Credit Union Auckland 6.20 - - - - - - - -
Credit Union Baywide 5.85 5.45 5.45 - 5.45 - - - -
Credit Union North 6.45 - - - - - - - -
Credit Union South 5.75 - - - - - - - -
6.04 6.55 6.15 - 6.69 7.19 7.65 7.90 6.09
Fantastic Home Loans 5.74 5.25 5.19 5.40 5.40 5.75 5.95 - -
Fidelity Life 5.70 - 5.85 - 6.35 - - - -
Finance Direct 6.10 6.25 6.45 6.60 6.69 7.10 7.45 7.70 -
First Credit Union 6.45 - - - - - - - -
General Finance 5.95 6.55 6.25 - 6.50 7.10 7.65 7.90 6.09
HBS Bank 5.65 4.99 4.99 4.99 4.99 5.65 - 5.99 5.65
Heartland 5.95 6.15 6.25 - 6.50 7.10 - 7.80 6.25
Heretaunga Building Society 5.75 - 5.25 - 5.65 - - - -
Housing NZ Corp 5.75 - 5.25 - 5.40 5.74 - 6.25 -
Mortgage Lender Floating 6 mth 1 year 18 mth 2 years 3 years 4 years 5 years RC
HSBC Premier 5.99 5.25 5.05 - 5.25 5.50 5.75 5.99 6.35
HSBC Premier Special - - 4.99 - 4.99 4.99 5.50 5.75 -
5.65 5.25 5.25 - 4.99 5.65 5.99 5.99 5.65
Kiwibank - Capped 5.65 - 6.50 - - - - - -
Kiwibank - Offset 5.50 - - - - - - - -
Liberty 5.64 - - - - - - - -
Napier Building Society 5.80 - 6.00 - 6.70 - - - 5.85
Nelson Building Society 6.45 - 5.95 - 6.25 - - - -
NZ Home Loans 5.85 5.45 5.25 - 5.45 5.75 - 6.25 -
Perpetual Trust 7.70 - - - - - - - 5.70
RESIMAC - lo doc 6.59 - 6.35 - 6.55 6.90 7.20 7.50 -
RESIMAC LVR <80% 5.59 - 5.35 - 5.55 5.90 6.20 6.50 -
SBS Bank 5.65 4.99 4.99 4.99 4.99 5.65 - 5.99 5.65
Silver Fern 5.95 6.00 6.10 - 6.55 7.05 7.50 7.80 6.95
5.95 6.15 6.25 - 6.50 7.10 - - -
5.85 5.45 5.19 5.45 5.45 5.75 5.95 6.25 5.79
The Co-operative Bank 5.70 5.35 4.99 - 5.35 5.75 5.99 - 5.70
The Co-operative Bank Special - - - - - - - - -
TSB Bank 5.79 5.35 5.25 5.40 5.30 5.75 6.10 6.30 5.79
Wairarapa Building Society 6.20 - 6.70 - 6.95 - - - -
6.24 5.25 5.19 5.40 5.40 5.90 6.15 6.25 5.75
- - 6.50 - - - - - -
Westpac LVR >80% - - 5.09 - - - - - -
Median 5.85 5.40 5.25 5.45 5.45 5.75 6.10 6.25 5.79

Last updated: 24 May 2013 1:22pm

This table is updated regularly and is intended as a brief guide to residential loans on owner-occupied properties in New Zealand. Users are advised to confirm the rates and conditions that will apply in your particular situation directly with the lender.

Terms explained

Floating rate: also known as the variable rate. This fluctuates according to market conditions.
Fixed rate: this rate applies for the length of the loan, which is fixed for a set period. We have given a sample of fixed rate periods only: many lenders offer fixed rate loans for as little as six months, while some go out to seven years.
LVR: this stands for the loan to value ratio and is the maximum percentage of a property's value that the institution will lend to. Check with the lender for any special conditions. Many, for example, may require you take out mortgage insurance if the LVR is over a certain level, or there may be other restrictions such as lending for apartments, which can be to a much lower LVR.
Capped rate: the maximum rate that will apply to a loan during its capped period. If the floating rate drops below the capped rate applicable then the lower floating rate will apply instead. There is no penalty for paying off lump sums, totally repaying the loan or for increasing your payments.

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Latest Trends
The OCR ain't going anywhere

The new Reserve Bank governor, Graeme Wheeler, predicts that the official cash rate won't by going anywhere until 2014.

This is clear from the 90-day bank bill forecast graph in the December Monetary Policy Statement. It shows clearly how over the past year forecast increases kept getting pushed down each quarter.

A year ago the bank was predicting the 90-day bill rate would be up at 4.00% by March 2014. That forecast was wound back to 3.3% in March, 3.2% three months later and is now down at 2.8%.

The good news for borrowers is that, asssuming things pan out as forecast, then home loan rates aren't likely to be going up any time soon either.

Rates flatlining

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Disclaimer: Every possible effort has been made to keep the information in the rates tables as accurate as possible, however, neither the publishers of Mortgage Rates nor anyone engaged to compile these tables accept any liability for inaccuracies or any loss suffered as a result. It is strongly advised that readers check loan details directly with the provider concerned.

© Copyright 2013 Tarawera Publishing Limited. All Rights Reserved.