Yes, the OCR was cut, and floating rates have gone down. But so have some fixed rates. We track the fixed rate changes here

Following the OCR change, banks have pushed through floating mortgage rate cuts quickly. And some have also updated their fixed rates as well.

This page will record them as they happen, following yesterday's ANZ fixed rate changes that kicked off the movement.

The next to cut fixed rates is Westpac. Their rate positioning leaves the hot BNZ six month rate all on its own, and its other changes position it similar to ANZ.

But carded rates are one thing. Actual off-card rates are often lower.

The reader-reported mortgage rates are fluid so we need you to record them in the comment section below, which helps us stay on top of this fast-changing corner of the home loan rates market

Almost all banks will have some flexibility in their rate offers. So the carded rates are just the start. Negotiate. How flexible they may be will depend on the strength of your financials.

One useful way to make sense of the changed home loan rates is to use our full-function mortgage calculator which is below.

Westpac matched these fixed mortgage rate cuts with term deposit rate cuts. 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. Break fees will be minimal in a rising market. But they become important in a falling market, like now. Don't forget, when you sign up for a fixed rate you are signing a contract. You have been given the right to break it in legislation but the bank has the right to reclaim its costs when you do so. This is NOT evidence of banks making it hard to switch (as some borrowers, and sadly some journalists seem to think).

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 November 27 2024	%	%	%	%	%	%	%
ANZ	6.24 -0.26	5.79 -0.50	5.59 -0.20	5.59 -0.10	5.59 -0.10	6.19	6.19
current reader-reported rates	6.19	5.74
	6.39	5.99	5.79	5.69	5.69	5.79	5.79
current reader-reported rates	6.29	5.79	5.59	5.59	5.59	5.69	5.69
	5.99	5.95	5.89	5.69	5.69	5.59	5.59
current reader-reported rates	5.99	5.79	5.69	5.65	5.59	555	5.55
	6.49	5.79		5.69	5.69	5.69	5.69
current reader-reported rates
	6.19 -0.26	5.79 -0.20	5.69 -0.20	5.49 -0.16	5.59 -0.06	5.59	5.59
current reader-reported rates
Bank of China	6.65	5.99	5.79	5.69	5.69	5.49	5.49
China Construction Bank	6.50	5.99	5.79	5.69	5.69	6.40	6.40
Co-operative Bank	6.39	5.99	5.89	5.75	5.69	5.69	5.69
Heartland Bank		5.65	5.59	5.55	5.55
ICBC	6.39	5.99	5.79	5.65	5.59	5.49	5.49
	6.60	6.15	5.79	5.69	5.69	5.69	5.69
	6.45	5.69	5.89	5.69	5.69	5.69	5.69