Kiwibank has announced mortgage rate changes effective today, Monday July 8.
This follows ANZ, which raised rates on Friday.
Three-year fixed rates increase to 5.90%, up 10 basis points from 5.80%.
Four-year fixed rates rise to 6.15%, up 5 basis pointss from 6.10%.
Five-year fixed rates are up to 6.45%, up 20 basis points from 6.25%.
Kiwibank has maintained its Christchurch new build special rates at 25 basis points lower than its standard rates.
These changes follow the recent trend by banks to push through relatively small increases but more frequently as wholesale money costs increase. Since the beginning of May, swap rates for these terms have risen between 60 and 70 basis points.
The changes position Kiwibank nearly or equal to the highest carded rates offered by the big four banks.
At the same time, Kiwibank has raised four and five year term deposit rates 20 and 30 basis points.
Last week, BNZ raised longer term fixed mortgage rates also.
See all advertised mortgage rates here.
| 1 yr | 2 yrs | 3 yrs | 4 yrs | 5 yrs | |
 |
4.95% | 5.50% | 5.95% | 6.15% | 6.45% |
 |
5.19% | 5.45% | 5.95% | 6.15% | 6.45% |
| BNZ | 5.25% | 5.40% | 5.90% | 6.15% | 6.35% |
| Kiwibank | 4.89% | 5.45% | 5.90% | 6.15% | 6.45% |
 |
5.19% | 5.50% | 5.90% | 6.15% | 6.35% |
| Co-op Bank | 4.94% | 5.45% | 5.80% | 6.10% | |
| HSBC Premier | 4.99% | 5.35% | 5.75% | 5.99% | 6.20% |
| SBS / HBS | 4.95% | 4.99% | 5.65% | 5.65% | |
 |
4.88% | 5.45% | 5.80% | 6.10% | 6.30% |
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Fixed mortgage rates
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1 Comments
At the same time, Kiwibank has raised 4 and five year term deposit rates 20 and 30 bps.
Yep, sure enough, those controlled by foreign bond trading forces, while the near term deposit rates remain anchored by the failed experiment with negative real short term rates undertaken by the RBNZ on behalf of it's subjects' so called welfare.
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