ANZ blames rising wholesale funding costs for 20-60 basis point increases in fixed-term mortgage rates

ANZ is increasing its advertised one year to five year fixed-term home loan interest rates by between 20 and 60 basis points effective Friday.

The bank's also introducing a 5.39% 18-month "LVR special" which borrowers must have a minimum of 20% to obtain.

ANZ is the second major bank to raise fixed-term mortgage rates this week after BNZ.

In a statement ANZ's retail managing director, Kerri Thompson, said the increases result from rises in wholesale funding costs ANZ has experienced over the past month.

"We remain committed to helping Kiwis into new homes or the property of their dreams within the limits imposed by the Reserve Bank for new lending," Thompson said.

ANZ's maintaining its 4.95% one-year special, which also requires a deposit of at least 20%.

The increases see ANZ's one year rate rise 20 basis points to 5.45%, its 18 month rate rise 26 basis points to 5.75%, its two year rates rise 30 basis points to 5.95%, its three year rate rise 45 basis points to 6.50%, its four year rate rise 60 basis points to 6.90%, and its five year rate go up 50 basis points to 7.10%.

The bank's six month rate is unchanged at 5.45% and its floating, or variable rate, remains 5.74%.

See all advertised mortgage rates here.

	1 yr	2 yrs	3 yrs	4 yrs	5 yrs
	5.45%	5.95%	6.50%	6.90%	7.10%
	5.25%	5.65%	6.05%	6.30%	6.60%
BNZ	5.39%	5.95%	6.29%	6.60%	6.90%
Kiwibank	4.89%	5.50%	6.05%	6.30%	6.60%
	5.19%	5.65%	6.04%	6.30%	6.60%
Co-op Bank	4.94%	5.50%	5.95%	6.25%
HSBC Premier	4.99%	5.65%	6.05%	6.30%	6.60%
SBS / HBS	4.95%	5.45%	5.80%		5.99%
	5.25%	5.50%	6.05%	6.30%	6.60%

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