BNZ, Kiwibank join others in hiking floating mortgage rates

Monday 9 February 2004

Kiwibank and Bank of New Zealand today joined other banks in lifting their floating mortgage rates in the wake of the Reserve Bank's quarter percentage point hike in the Official Cash Rate on January 29.

By The Landlord

Kiwibank raised its variable and revolving home loan interest rates for new customers from 6.75 per cent per annum to 6.95 per cent.

The interest rate for existing customers, which had been held at 6.55 per cent, will rise to 6.95 per cent on February 23.

BNZ announced it had increased its variable rate to 7.5 per cent from 7.25 per cent to match Westpac, ANZ and ASB.

Read More - Opens in a new window
Commenting is closed

Property News

Weak sales, resilient prices

Auckland’s housing market saw another slump in sales volumes in May but prices are holding steady, according to the city’s largest real estate agency.

House Prices

House price drops are short-lived - Alexander

Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.


Resilience needed in face of change

The Reserve Bank says the commercial property sector is vulnerable to the Covid-19 crisis. But PMG Funds' chief executive believes that while there’ll be short-term pain, the biggest long-term impact will be structural change.


Mortgage lending slumps to record low in April

Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.

Site by PHP Developer