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ANZ does a u-turn on rate increases

ANZ Bank has reversed some of the changes it made to its home loan rates last week.

Tuesday, August 24th 2021

The increases were made ahead of last week's OCR announcement where the market expected the Reserve Bank to increase the case rate. However, that increase was put on hold following the discovery of a case of Covid-19 in the community.

The bank is putting its standard one-year fixed rate back to 3.15% after hiking it to 3.29% last week,.

While the RBNZ had been expected to raise its official cash rate, the delta variant of covid-19 surfaced and the central bank remained on hold. Wholesale rates have also tumbled in the wake of the delta outbreak.

ANZ also reversed 10 basis point hikes to its standard 18-month and two-year fixed rates, as well as a 14bp hike to its special one-year rate and 10bp hikes to its special 18-month and two-year rates.

Its six-month standard and special rates, which weren't raised last week, remain the same at 3.99% and 3.39% respectively.

However, the 10bp hike in its standard three-year rate of 3.85% stands, as do the 20bp and 30bp hikes in its standard four and five-year rates to 4.29% and 4.59% respectively.

The 10bp hike in its three-year special rate of 3.25% also remains in force.

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Heartland Bank - Online 1.85
HSBC Premier 2.19
HSBC Special 2.25
Kainga Ora - First Home Buyer Special 2.25
ICBC 2.35
SBS Bank Special 2.49
TSB Special 2.55
ANZ Special 2.60
China Construction Bank Special 2.65
The Co-operative Bank - First Home Special 2.65
The Co-operative Bank - Owner Occ 2.85
Heartland Bank - Online 2.35
HSBC Premier 2.45
China Construction Bank Special 2.65
ICBC 2.75
Resimac 2.79
SBS Bank Special 2.89
TSB Special 2.95
Select Home Loans 2.99
Bluestone 2.99
ANZ Special 2.99
Kiwibank Special 3.15
China Construction Bank Special 2.99
HSBC Premier 3.19
Select Home Loans 3.54
Bluestone 3.54
Resimac 3.54
ICBC 3.75
SBS Bank Special 3.79
TSB Special 3.99
BNZ - Classic 3.99
Kiwibank Special 4.19
Kainga Ora 4.22
ANZ Blueprint to Build 1.68
ASB Back My Build 1.79
Heartland Bank - Online 2.25
Resimac 3.39
Bluestone 3.49
Select Home Loans 3.49
ICBC 3.69
Kiwibank Special 3.75
Kiwibank 3.75
Kiwibank - Offset 3.75
The Co-operative Bank - Owner Occ 4.40

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