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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
ICBC 4.25
SBS FirstHome Combo 4.29
Co-operative Bank - First Home Special 4.35
TSB Special 4.39
Co-operative Bank - Owner Occ 4.45
ANZ Special 4.49
ASB Bank 4.49
SBS Bank Special 4.49
Unity Special 4.49
Westpac Special 4.49
Westpac Special 4.45
SBS Bank Special 4.49
BNZ - Std 4.49
Kiwibank Special 4.49
TSB Special 4.49
AIA - Go Home Loans 4.49
ANZ Special 4.49
ASB Bank 4.49
Co-operative Bank - Owner Occ 4.49
ICBC 4.59
Wairarapa Building Society 4.59
SBS Bank Special 4.99
Westpac Special 4.99
ICBC 4.99
BNZ - Std 4.99
AIA - Go Home Loans 5.15
ASB Bank 5.15
Co-operative Bank - Owner Occ 5.19
ANZ 5.39
TSB Special 5.39
Kiwibank Special 5.39
Kainga Ora 5.49
SBS FirstHome Combo 3.44
AIA - Back My Build 3.54
SBS Construction lending for FHB 3.74
CFML 321 Loans 4.25
Co-operative Bank - Owner Occ 5.30
Co-operative Bank - Standard 5.30
ICBC 5.39
Heartland Bank - Online 5.45
Kiwibank - Offset 5.80
Kiwibank 5.80
ANZ 5.89

Full Rates Table

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