ANZ Economists Predict Softer Landing for NZ Economy, Potential Early Rate Cuts
Date Published: 20 June 2024
Key Facts ANZ economists suggest New Zealand’s economy may face a softer landing than previously expected. ANZ’s chief economist, Sharon Zollner, predicts interest rate cuts earlier than RBNZ’s forecast. Local…
ASB Survey: Interest Rates Expected to Fall as NZ Housing Market Faces Stalemate
Date Published: 20 June 2024
Key Facts ASB’s latest Housing Confidence Survey indicates a directionless housing market with high debt servicing costs and upfront affordability constraints. For the first time since early 2021, more respondents…
Short-Term Fixed Rates Dominate as Housing Market Faces Multi-Speed Conditions
Date Published: 7 June 2024
Key Facts Owner-occupiers drew down $4.4 billion in new lending during April, largely on one-year fixed rates. Six-month fixed term lending reached a historical high of 16.5% among owner-occupiers. House…
Potential Budget Concerns and Reserve Bank Decisions That Could Lead to Increased Mortgage Costs
Date Published: 27 May 2024
Key Facts The proposed government policy changes could have led to increased mortgage bills for home owners and property investors in New Zealand. Concerns were raised over potential inflationary pressures…
Small NZ Bank Offers Lowest One-Year Mortgage Rate, But Optimal Conditions Apply
Date Published: 21 May 2024
Key Facts SBS Bank has cut its one-year interest rate for first-time home buyers to 6.14%, which is at least 1% lower than other banks’ current rates. This rate is…
NZ Housing Market Favors Buyers as Resale Profits Dip and Interest Rates Fall
Date Published: 20 May 2024
Key Facts The proportion of properties resold for more than their original purchase price has slightly decreased to 92.9% in Q1 of 2024 compared to the previous quarter’s 93.5%. Sellers…
ASB Joins BNZ and Kiwibank in Cutting Mortgage Rates Amid Lower Inflation Expectations
Date Published: 20 May 2024
Key Facts ASB has cut its longer-term mortgage rates, following a prior reduction in short-term rates. The three-year term rate has been reduced by 26 basis points, and the four-year…
Kiwibank and BNZ Join ASB in Slashing Mortgage Rates Amidst Expected Decrease in Inflation
Date Published: 16 May 2024
Key Facts BNZ and Kiwibank have followed ASB in cutting their home loan rates. BNZ has cut its six-month and one-year terms by between 5 and 10 basis points, with…
How To Calculate Break Costs And Decide If It Is A Good Strategy
Date Published: 15 May 2024
For the past 16 years, interest rates (both mortgage and the Official Cash Rate) have been on a roller-coaster journey. That means that almost most people who have fixed their…
ASB Cuts Mortgage Rates for Seventh Time This Year Amid High Inflation
Date Published: 9 May 2024
Key Facts ASB, a major bank in New Zealand, has reduced some of its mortgage rates for the seventh time this year. The reductions apply to its six-month, one-year, and…
Over Half of March Mortgages in NZ Opt For Short-Term Rates Anticipating Future Cuts
Date Published: 8 May 2024
Key Facts In March 2024, over half of the new fixed rate term mortgage money was for terms of one year or shorter. Though RBNZ doesn’t anticipate cutting the Official…
Heartland Bank Raises Home Loan Rates But Still Leads Market, Despite Strong SBS Three-Year Offer
Date Published: 24 April 2024
Key Facts Heartland Bank, known for its competitive home loan rates, has increased all their fixed rates between +10 and +20 bps (basis points). Despite these increases, Heartland Bank maintains…
Inflation Worries as Majority of Mortgages Bet on Interest Rate Reduction Amid Rising Construction Costs
Date Published: 17 April 2024
Key Facts Reserve Bank of New Zealand (RBNZ) projects a 0.4% quarterly rise in the Q1 Consumer Price Index (CPI), with an annual figure slowing from 4.7% to 3.8%. The…
ASB and Westpac Trim Home Loan Rates, Expectations of No Changes for Upcoming RBNZ Review
Date Published: 8 April 2024
Key Facts ASB has made minor cuts to some home loan rates in response to Westpac’s targeted cut last Tuesday. The adjustment comes as the primary real estate selling season…
Mortgage Stress Looming for Majority of Kiwi Homeowners amid Rising Rates and Housing Market Shifts
Date Published: 1 April 2024
Key Facts 59% of existing mortgages in New Zealand are due for repricing within the next year, likely adding more to monthly payments due to higher interest rates. Despite the…
What Could NZ Mortgage Rates Be In 2025?
Date Published: 25 March 2024
As we approach the end of the first quarter in 2024, many New Zealanders with mortgages are contemplating their financial futures amidst a dynamic and unpredictable economic landscape. Understandably, one…
ASB Trims Home Loan Interest Rates for Third Time in Three Weeks
Date Published: 11 March 2024
Key Facts ASB has announced a third round of reductions to some of its fixed home loan interest rates. No new market-leading levels were established with these cuts, aimed mainly…
ASB Cuts Mortgage Rates for the Second Time in a Week, Matches Major Banks
Date Published: 4 March 2024
Key Facts ASB has dropped their one-year home loan rate by -10 basis points to 7.29%, and its two-year lending rate has been trimmed -4 bps to 6.85%. They’ve also…