Rate changes update from Canstar

by NZ Adviser11 May 2016
ASB Bank, New Zealand home Loans and Sovereign all made adjustments to some home loan rates in the past week, according to the latest data from Canstar, which has given a snapshot of rates in the current market (below). 

2 year fixed rates are under the spotlight, with the three institutions all dropping their 2 year fixed rate (available for borrowers with a 20% deposit) to 4.19%. This is now the lowest rate on the canstar.co.nz database.  
 
TSB's 2 year fixed rate sits at 4.19%, available for borrowers with only a 5% deposit. ASB Bank and Sovereign both increased their 1 year fixed home loan rates over the past week, both by 10 basis points to 4.25%.

Here are the current minimum, maximum and average home loan rates on the canstar.co.nz database:
Table: Residential & Investment Home Loan Market - Snapshot of the current market (10/05/2016)  
  Standard Floating 1 Year Fixed 2 Year Fixed 3 Year Fixed 4 Year Fixed 5 Year Fixed  
Average 5.62% 4.52% 4.57% 4.86% 5.09% 5.20%  
Min 5.45% 4.25% 4.19% 4.64% 4.89% 4.99%  
Max 5.85% 4.85% 4.95% 5.25% 5.35% 5.40%  
Decreases 0 1 5 0 0 0  
Increases 0 2 0 0 0 0  
Avg. Movement 0.00% 0.05% -0.14% 0.00% 0.00% 0.00%  
Source: www.canstar.co.nz, the search results do not include all home loan providers, and may not include all features relevant to you.  
 
 
 

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