ANZ has raised its fixed rate offers for all terms out to three years.
Their new one year rate is up +30 bps to 4.85%, a level that matches Kiwibank's recent change.
Their two year fixed rate is up +10 bps to 5.35%, and their three year rate is up a similar +10 bps to 5.65%. At these levels they are all the highest 'specials' in the current home loan market.
And they probably signal where their main rivals will be shifting to soon.
ANZ is New Zealand's largest home loan lender, in fact our largest bank.
This change was advised within minutes of the Reserve Bank of Australia surprising markets with a +50 bps official rate hike. It was one greater than expected. See this.
The RBA move will shift wholesale rates up regionally, and that will include for New Zealand. The RBA move came after the wholesale rate markets closed here today.
Wholesale swap rates have been trending up recently, but that is after they took a detour down following international trends, a dip that most banks didn't follow with fixed rate cuts at the time.
Internationally, the central bank signals are that chunky rate rises are coming from most reviews out past September, so wholesale markets are pricing those in and that could well have a strong influence on local interest rate swap market levels.
ANZ also raised their term deposit rate offers, by between +10 bps and +30 bps. Their new 6 month rate becomes 2.50% and their new one year rate becomes 3.15%. But unlike others, ANZ still don't have any term deposit offers of 4% or greater.
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.
| Fixed, below 80% LVR | 6 mths | 1 yr | 18 mth | 2 yrs | 3 yrs | 4 yrs | 5 yrs |
| as at June 7, 2022 | % | % | % | % | % | % | % |
| ANZ | 4.95 +0.30 |
4.85 +0.30 |
5.15 +0.25 |
5.35 +0.10 |
5.65 +0.10 |
6.35 | 6.45 |
 |
4.49 | 4.49 | 4.85 | 5.25 | 5.55 | 6.35 | 6.45 |
 |
4.39 | 4.55 | 4.90 | 5.25 | 5.45 | 5.79 | 5.99 |
 |
5.10 | 4.85 | 5.19 | 5.39 | 5.55 | 5.79 | |
 |
4.59 | 4.49 | 4.89 | 5.19 | 5.49 | 5.79 | 5.89 |
| Bank of China | 4.45 | 4.80 | 5.10 | 5.40 | 5.70 | 5.90 | |
| China Construction Bank | 4.35 | 4.45 | 4.85 | 5.19 | 5.45 | 6.15 | 6.35 |
| Co-operative Bank | 4.29 | 4.29 | 4.85 | 5.19 | 5.45 | 5.75 | 5.95 |
| Heartland Bank | 4.18 | 4.84 | 4.95 | ||||
| HSBC | 4.49 | 4.39 | 4.89 | 5.15 | 5.39 | 5.69 | 5.89 |
| ICBC | 4.39 | 4.29 | 4.79 | 5.09 | 5.35 | 5.65 | 5.89 |
 |
4.65 | 4.55 | 4.89 | 5.19 | 5.39 | 5.79 | 5.95 |
 |
4.45 | 4.34 | 4.90 | 4.99 | 5.35 | 5.55 | 5.75 |
Fixed mortgage rates
Select chart tabs
Daily swap rates
Select chart tabs
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.