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ANZ increasing 2-5 year fixed-term home loan rates by between 10 and 15 basis points

Property
ANZ increasing 2-5 year fixed-term home loan rates by between 10 and 15 basis points

ANZ is increasing interest rates on its advertised two to five-year fixed-term home loan interest rates by between 10 and 15 basis points. 

The changes are effective from Thursday.

The bank says it's lifting its two-year rate by 15 basis points to 5.65% per annum, its three-year rate by 10 basis points to 6.05%, its four-year rate by 15 basis points to 6.30%, and its five-year rate by 15 basis points to 6.60%.

ANZ's new advertised, or carded, two-year rate brings it in line with those offered by ASB, BNZ, Westpac and HSBC.

Kiwibank, the Co-operative Bank and TSB Bank are at 5.50%, and SBS Bank at 5.25%.

SBS also has the lowest three and five-year advertised bank rates at 5.65% and 5.99%, respectively.

The Co-operative Bank has the lowest four-year rate at 6.15%.

Meanwhile, ANZ says its 4.95% one-year fixed-term special is available until July 31.To get this deal borrowers must have minimum 20% equity, an ANZ Freedom account and an ANZ Credit Card.

TSB, Kiwibank and the Co-operative Bank all have lower advertised one-year rates at 4.88%, 4.89% and 4.94%, respectively. SBS is also at 4.95%.

See all advertised mortgage rates here.

  1 yr 2 yrs 3 yrs 4 yrs 5 yrs
           
4.95% 5.65% 6.05% 6.30% 6.60%
ASB 5.25% 5.65% 6.05% 6.30% 6.60%
BNZ 5.25% 5.65% 5.89% 6.30% 6.60%
Kiwibank 4.89% 5.50% 6.05% 6.30% 6.60%
Westpac 5.19% 5.65% 6.04% 6.30% 6.60%
           
Co-op Bank 4.94% 5.50% 5.95% 6.15%  
HSBC Premier 4.99% 565% 6.05% 6.30% 6.60%
SBS / HBS 4.95% 5.25% 5.65%   5.99%
TSB 4.88% 5.50% 6.05% 6.30% 6.60%

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Fixed mortgage rates

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3 Comments

Floating is the way to go - Reserve Bank OCR more likely to drop over the next 12 months once the European and Chinese economies head deeper into GFC round two.

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Floating well overdue for a drop.

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Warnings should be given to the gullible/fearful fixing for 3+ years misinformed by media & economists . The drumbeats of looming rises are to get lock-in perhaps. 

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