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Home Loan Rate Weekly Report

Another week of many changes. As expected lenders kept bumping up their floating rates by 25 basis points in response to the latest increase in the OCR by the Reserve Bank.

Tuesday, September 28th 2004

Variable rates now range from Napier Building Society's 7.50% to the NZ Mortgage Income Trust which is the highest at 8.95%.

In reality the range of floating rates is quite compressed if you take out the outliers who are not exactly the giants of the home loan market. Looking at it this way the major trading banks are all at the top, or near the top, of the table with rates of 8.60% (Westpac) and 8.50% for the others. At the low end is Kiwibank with 8.00% and NZ Mortgage Funds on 7.95%.

The action is in the one and two year fixed rate markets.

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Top Mortgage Rates

Unity First Home Buyer special 3.99
SBS FirstHome Combo 3.99
ICBC 4.25
Co-operative Bank - First Home Special 4.39
TSB Special 4.49
ANZ Special 4.49
ASB Bank 4.49
SBS Bank Special 4.49
Unity Special 4.49
Westpac Special 4.49
Kiwibank Special 4.49
TSB Special 4.00
Kainga Ora 4.49
Kiwibank Special 4.49
ICBC 4.59
Unity Special 4.65
ANZ Special 4.69
SBS Bank Special 4.69
Nelson Building Society 4.69
BNZ - Std 4.69
AIA - Go Home Loans 4.75
ASB Bank 4.75
ICBC 4.99
Kainga Ora 5.15
BNZ - Std 5.29
SBS Bank Special 5.29
Kiwibank Special 5.39
TSB Special 5.39
Westpac Special 5.49
Co-operative Bank - Owner Occ 5.49
BNZ - Classic 5.59
ASB Bank 5.69
AIA - Go Home Loans 5.69
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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