Mortgage Rates Comparison
For a number of years New Zealand offered and paid close to the highest interest rates in the developed world.Between April 30, 2009 and June 9, 2010 the central bank's key interest rate stood at 2.5 per cent, increasing to 3.0 per cent in June. As a consequence of the Christchurch earthquake, the rate returned to 2.5 percent on March 10 2011 and remains there to date. Mortgage rates are higher than this and are not expected to fall significantly because, regardless of the central bank's interest rate, New Zealand's banks need to source much of the money they lend from overseas. One result of the credit crunch is that it has become harder for banks to secure overseas funding.
Most borrowers should find little difficulty securing a mortgage in New Zealand.
Here are current mortgage interest rates offered by some of the country's main high street lenders.
Last Updated 9 January 2012
Mortgage Interest Rates in New Zealand
| Type of Mortgage | ANZ | ASB | Kiwibank | National Bank |
| Variable Rate | 5.74% | 5.75% | 5.65% | 5.74% |
| 6 months fixed | 5.75 | 5.75% | 5.65% | 5.75% |
| 1 year fixed | 5.79% | 5.80% | 5.65% | 5.79% |
| 2 years fixed | 6.09% | 6.00% | 5.89% | 6.09% |
| 3 years fixed | 6.45% | 6.30% | 6.39% | 6.45% |
| 5 years fixed | 7.25% | 7.10% | 7.19% | 7.25% |
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