Co-operative Bank raises its one year home loan rate, SBS now market leader for that term

The mortgage market has lost the 5.29% one year fixed rate from the Co-operative Bank.

They have announced an increase of 10 bps and their new one year fixed rate is now 5.39%.

That makes it the same as BNZ and HSBC and very similar to TSB.

The new market leader for one year has now shifted to SBS / HBS Bank who are still offering a 5.35% rate for one year fixed.

Wholesale rates have edged up today for all terms above one year, but the overall trend for wholesale money is still up.

Wholesale rates had crept up before New Year in anticipation of an official rate hike, but from international events they then softened. More recently however, they have started rising again as the threat of an RBNZ hike gets closer although these latest rises are modest.

However it is clear that market participants still have doubts that the RBNZ will actually move in March, especially if the exchange rate continues its rise.

See all carded, or advertised, bank home loan rates here.

below 80% LVR	1 yr	18 mths	2 yrs	3 yrs	5 yrs
	5.49%	5.85%	6.29%	6.65%	7.20%
	5.49%	5.85%	5.95%	6.60%	7.20%
BNZ	5.39%	5.85%	6.29%	6.35%	7.20%
Kiwibank	5.49%		5.99%	6.40%	6.90%
	5.49%	5.69%	6.29%	6.39%	7.20%
Co-op Bank	5.39%	5.85%	5.85%	6.25%	7.10%
	5.39%		6.29%	6.55%	7.20%
SBS / HBS	5.35%	5.60%	5.80%	6.10%	6.70%
TSB	5.40%	5.85%	5.99%	6.40%	7.20%

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