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Mortgages

Mortgage rates could hit 9pc before end of the year

Floating mortgage rates could be close to 9 per cent before the end of the year, despite the Reserve Bank picking that the pace of economic growth is now slowing down.

Monday, September 13th 2004

Reserve Bank Governor Alan Bollard today revealed his fifth interest rate rise this year, lifting the Official Cash Rate (OCR) from 6 per cent to 6.25 per cent.

The rise was widely expected especially after Finance Minister Michael Cullen all but confirmed the move in a parliamentary gaffe yesterday.

Dr Bollard warned a number of times in today's September Monetary Policy Statement (MPS) that more hikes were on the cards, on top of the 125 basis points tightening in the year to date.

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Top Mortgage Rates

Unity First Home Buyer special 3.99
SBS FirstHome Combo 3.99
ICBC 4.25
TSB Special 4.39
Co-operative Bank - First Home Special 4.39
SBS Bank Special 4.49
Unity Special 4.49
ANZ Special 4.49
Westpac Special 4.49
Kiwibank Special 4.49
Co-operative Bank - Owner Occ 4.49
Kainga Ora 4.49
ICBC 4.59
Nelson Building Society 4.67
Unity Special 4.69
ANZ Special 4.69
BNZ - Std 4.69
Wairarapa Building Society 4.79
Westpac Special 4.89
SBS Bank Special 4.89
Kiwibank Special 4.89
Co-operative Bank - Owner Occ 4.89
ICBC 4.99
Kainga Ora 5.15
Westpac Special 5.49
ASB Bank 5.69
TSB Special 5.69
BNZ - Std 5.69
SBS Bank Special 5.69
Co-operative Bank - Owner Occ 5.69
AIA - Go Home Loans 5.69
Kiwibank Special 5.79
China Construction Bank 5.99
SBS FirstHome Combo 3.29
AIA - Back My Build 3.34
SBS Construction lending for FHB 3.74
CFML 321 Loans 3.95
Co-operative Bank - Owner Occ 4.99
Co-operative Bank - Standard 4.99
Heartland Bank - Online 5.30
ICBC 5.39
Kiwibank - Offset 5.65
Kiwibank 5.65
Kainga Ora 5.69

Full Rates Table

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