Search

Search News Search Questions

News > Mortgages > Two-year home loan rates a bargain

Mortgages

Two-year home loan rates a bargain

Hot competition continues in the medium term home loan rate market with BNZ moving the aggressive pricing strategy it has used for its two-year rate to the three-year one as well.

Monday, March 15th 2004

BNZ, announced on Friday night, that it is now offering a three year fixed rate at 6.99% - significantly below its competitors. However, both these rates are for its Ultimate Home Loan package that is a combination of fixed and floating.

The rate is not available on GlobalPlus Home Loans or any other packaged offers, where the applicable 2-year rate is 7.30% and applicable 3-year rate is 7.50%.

"BNZ set the pace for the two-year fixed home loans," general manager of business development Andrew Whitechurch says. "Now we're offering a market-leading home loan rate for three-year fixed home loans as well."

Aside from BNZ's activity on Friday last week was noticeably quiet in the lead up to the Reserve Bank's Official Cash Rate announcement with no significant changes being made.

The RBNZ left the OCR at 5.25% on Thursday. Following the announcement there have been some tentative moves downwards. Cairns Lockie/eMortgage, General Finance and Wizard all dropped fixed rates.

Read More - Opens in a new window

Next Article

Property investors refocus on cash flow

Most Read

1 Sales dive to new depths – lending at low DTIs

2 Interest rate expectations: It’s not over yet

3 [OPINION] Recessionary times

4 A better investment market

5 Support for regulation

See more News >

Top Mortgage Rates

Heartland Bank - Online 6.69
TSB Special 6.74
SBS FirstHome Combo 6.74
Wairarapa Building Society 6.95
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.45
TSB Special 6.49
Westpac Special 6.75
China Construction Bank 6.75
ASB Bank 6.75
ICBC 6.75
AIA - Go Home Loans 6.75
Kiwibank Special 6.79
Co-operative Bank - Owner Occ 6.79
ANZ Special 6.79
TSB Special 6.29
ASB Bank 6.39
Westpac Special 6.39
AIA - Go Home Loans 6.39
China Construction Bank 6.40
ICBC 6.49
SBS Bank Special 6.55
BNZ - Classic 6.55
Kiwibank Special 6.55
Co-operative Bank - Owner Occ 6.55
Kainga Ora 6.99
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

Full Rates Table

More Stories

Rate cuts needed to lift mood

Wednesday, April 17th 2024

Rate cuts needed to lift mood

The enthusiasm that followed the change in government, mainly from property investors, has waned as homeowners and buyers hang out for interest rate cuts, says Kiwibank.

Support for regulation

Monday, March 18th 2024

Support for regulation

REINZ has emphasised the need for property management regulation to Parliament’s Social Services and Community Committee.

A better investment market

Thursday, March 14th 2024

A better investment market

“Reinstatement of interest deductibility starting from the new tax year on 1 April brings property investors back in line with every other business in the country, where interest costs are a legitimate deductible expense," Tim Horsbrugh, New Zealand Property Investors Federation (NZPIF) executive committee member says.

[OPINION] Recessionary times

Thursday, March 14th 2024

[OPINION] Recessionary times

It is not the best out there for many businesses and property sector people. Sales are down across the board, our clients’ confidence is falling, and there is a lot of uncertainty.

Landlords
© 2024 Tarawera Publishing Ltd.