BNZ settles on 6.49% as its new higher floating rate, raising some products 15 bps and others 25 bps

BNZ has raised its floating mortgage rates this morning, according to new rates posted on their website.

It has settled on 6.49% as its floating rate.

But not all it's rates have risen +0.25%.

Only its Total Money floating rate has risen the full +0.25%.

Its Standard, FlyBuys and GlobalPlus variable rates have only risen +0.15%, removing the 10 bps premium they had until today.

BNZ has two revolving credit products which have also been increased. Its MortgageOne product has risen the full +0.25% to 6.90% whereas their RapidRepay has risen only +0.15% to 6.49%.

Their HomeAdvantage credit card rate also moves up to 6.49%.

No equivalent term deposit rate changes have yet been noted on their website.

The Reserve Bank last week increased the OCR for the third time this year, to 3.25%. ANZ was the first bank to lift rates after after that policy decision. The Co-operative Bank was the second. And ASB was third.

See all banks' carded, or advertised, home loan rates here.

ASB's new floating home loan rates compare with their main rivals this morning as follows:

below 80% LVR	Floating	Revolving
		Credit
	6.49%	6.60%
	6.50%	6.50%
- Total Money	6.49%
- Standard & FlyBuys	6.49%	6.49%
Kiwibank	6.15%	6.15%
	5.99%	6.25%
Co-op Bank	6.45%	6.45%
	6.39%	6.70%
	6.15%	6.15%
TSB	6.29%	6.04%

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