How do home loan rates compare?

Have banking institutions responded to the RBNZ’s recent cash rate move by changing interest rates? Will your home loan cost you more or less now?

In 2016, CANSTAR has rated 58 home loan products from 10 providers in New Zealand. Our research showed some interesting results, especially given the recent cash rate moves by the Reserve Bank.

How interest rates have changed over the past month

Give the recent cash rate move by the RBNZ, let’s compare the minimum, maximum and average rates prior to the rate move with the minimum, maximum and average rates 2 weeks later.

Home Loan Market – Snapshot of the current market (29/02/2016)
Floating 1 Year Fixed 2 Year Fixed 3 Year Fixed 4 Year Fixed 5 Year Fixed
Average 5.78% 4.63% 4.74% 4.98% 5.25% 5.35%
Min 5.65% 4.35% 4.29% 4.49% 4.99% 5.15%
Max 6.24% 4.89% 5.09% 5.25% 5.40% 5.50%
Source: www.canstar.co.nz, the search results do not include all home loan providers, and may not include all features relevant to you.

 

Home Loan Market – Snapshot of the current market (29/03/2016)
Floating 1 Year Fixed 2 Year Fixed 3 Year Fixed 4 Year Fixed 5 Year Fixed
Average 5.62% 4.53% 4.64% 4.89% 5.09% 5.21%
Min 5.45% 4.15% 4.25% 4.64% 4.89% 4.99%
Max 6.09% 4.85% 4.99% 5.25% 5.35% 5.40%
Source: www.canstar.co.nz, the search results do not include all home loan providers, and may not include all features relevant to you.

 Compare Home Loans Interest Rates

 

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