(Updated with details of the re-introduced 3 year Classic rate.)
BNZ has raised all its fixed mortgage rates for terms of 3 years and longer.
The increases range from 15 to 21 bps.
Essentially, BNZ is bringing these changed rates to the level offered by their rivals.
At the same time, it has reprised its Classic 3 year fixed rate of 6.29%. This essentially converts that rate to one only available to borrowers with at least 20% equity in their property.
The BNZ three year Standard rate rises to 6.50%, up 21 bps from 6.29%
Their four year rate is now 6.80%, up 20 bps from 6.60%.
The five year rate goes to 7.10%, up 20 bps from 6.90%.
BNZ is the only bank to offer a carded 7 year rate and this has been raised too, and is now 7.60%, up 15 bps from 7.45%
The new rates are effective today and are listed on the bank's website.
The last time BNZ raised fixed rates was on August 21, the day after the RBNZ's LVR announcement.
Generally, wholesale rates have been rising since then although there has been little upward movement in the past two weeks or so in these terms.
See all advertised mortgage rates here.
| 1 yr | 18 mths | 2 yrs | 3 yrs | 5 yrs | |
 |
5.45% | 5.75% | 5.95% | 6.50% | 7.10% |
 |
5.40% | 5.65% | 5.95% | 6.40% | 6.99% |
| BNZ | 5.39% | 5.39% | 5.95% | 6.29% | 7.10% |
| Kiwibank | 5.25% | 5.75% | 5.99% | 6.90% | |
 |
4.94% | 5.75% | 5.95% | 6.50% | 7.10% |
| Co-op Bank | 4.94% | 5.50% | 6.20% | ||
| HSBC Premier | 4.75% | 5.65% | 6.35% | 6.99% | |
| SBS / HBS | 4.95% | 5.45% | 5.99% | 6.55% | |
 |
5.40% | 5.65% | 5.85% | 6.45% | 7.00% |
In addition to the table below, TSB has a 15 month 'special' rate of 5.15%.
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