BNZ has announced across-the-board changes to its mortgage rates, raising its fixed rates to similar levels set by the other major banks in the past week. However, it has lowered its floating rate by about 0.15% and this change leads that end of the market - in fact, BNZ's Total Money floating rate is now below its one year fixed rate. It's new rates are: - Total Money variable = 5.85%, down 0.14% - Standard variable = 6.30%, down 0.15% - Classic 18 months fixed = 6.09%, up 0.10% - 3 year fixed = 7.45%, up 0.46% - 4 years fixed = 7.95%, up 0.45% - 5 years fixed = 8.30%. up 0.31% - 7 years fixed = 8.90%, up 0.30% You can see how these compare with other home loan lenders here >> And, you can see the recent mortgage rate change trends here >> These latest moves at both ends of the rate spectrum, push the mortgage rate curve to its steepest level in many years. There is now a difference between the variable rate and the five year fixed rate of over 2.40% at BNZ.
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.