BNZ is the next to raise home loan rates, but basically to levels others have arrived at.
Perhaps there is another Westpac 'adjustment' coming although it was Westpac who started this round and they may be happy with where they sit now.
Our tables and charts give the rate details, but perhaps a different perspective could be useful about here each retail bank now stands with its carded mortgage rate offers.
The steam has gone out of the wholesale rises in the past few days, but they aren't reversing. These new higher rates are holding. A lot will depend now on how markets react to Wednesday's Reserve Bank Financial Stability Review, the upcoming employment data due out Wednesday as well, and the Reserve Bank Monetary Policy Statement due on November 24 when policy rates are widely expected to rise again.
One useful way to make sense of these changed home loan rates is to use our full-function mortgage calculator which is also below. (Term deposit rates can be assessed using this calculator).
And if you already have a fixed term mortgage that is not up for renewal at this time, our break fee calculator may help you assess your options. But break fees should be minimal in a rising market.
Here is the updated snapshot of the lowest advertised fixed-term mortgage rates on offer from the key retail banks at the moment. Updated with late TSB changes.
| Fixed, below 80% LVR | 6 mths | 1 yr | 18 mth | 2 yrs | 3 yrs | 4 yrs | 5 yrs |
| as at November 3, 2021 | % | % | % | % | % | % | % |
| ANZ | 4.00 | 3.34 | 3.69 | 3.99 | 4.24 | 5.24 | 5.54 |
 |
3.99 | 3.49 | 3.89 | 4.15 | 4.39 | 4.75 | 4.99 |
 |
3.89 | 3.49 +0.25 |
3.89 +0.35 |
4.15 +0.36 |
4.39 +0.40 |
4.79 +0.30 |
4.79 +0.30 |
 |
3.99 | 3.49 | 3.99 | 4.49 | 4.69 | 4.85 | |
 |
3.89 | 3.34 | 3.69 | 3.99 | 4.19 | 4.29 | 4.49 |
| Bank of China | 3.45 | 2.89 | 3.09 | 3.29 | 3.65 | 3.99 | 4.19 |
| China Construction Bank | 3.25 | 3.25 | 3.59 | 3.79 | 3.99 | 4.29 | 4.39 |
| Co-operative Bank | 3.24 | 3.24 | 3.54 | 3.70 | 3.99 | 4.29 | 4.49 |
| Heartland Bank | 2.35 | 2.60 | 2.90 | ||||
| HSBC | 3.24 | 2.99 | 3.29 | 3.59 | 3.79 | 4.09 | 4.29 |
| ICBC | 2.99 | 2.89 | 3.19 | 3.29 | 3.49 | 3.89 | 4.09 |
 |
3.19 | 2.99 | 3.39 | 3.49 | 3.45 | 4.29 | 4.49 |
 |
3.29 +0.15 |
3.29 +0.15 |
3.64 +0.20 |
3.94 +0.29 |
4.14 +0.25 |
4.24 | 4.44 |
Fixed mortgage rates
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Daily swap rates
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Comprehensive Mortgage Calculator
5 Comments
BNZ told me they could not discuss our mortgage more than 60 days before our current fixed term expires, so I was unable to lock in the previous lower 5 year rate even though I absolutely knew it was going to jump, and now their 2 year rate is double what we currently have fixed.
While I'm not worried about being able to service the increase, it just means diverting funds from elsewhere, like not putting it into the local small business economy, in order to still be mortgage free by retirement.
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