If you're looking for the cheapest home loan, it's essential to do your homework and shop around.
On the back of the recent OCR hike to 2.75%, lenders have increased their variable rates, and there remains pressure on fixed-term rates, which could lift over the tail end of 2026.
However, there remains a wide disparity between what's on offer out in the market.
For example, fixed rates start at 4.95%, while long-term fixed mortgages top out at 6.49% and the average floating rate sits at 6.17%.
Latest owner-occupier mortgage rates
Here is an overview of the current minimum and maximum rates for owner-occupier home loans on our database:
| Owner-occupier Mortgage Rates | |||||
|---|---|---|---|---|---|---|
| Floating | 1-Year Fixed | 2-Year Fixed | 3-Year Fixed | 4-Year Fixed | 5-Year Fixed |
Average | 6.17% | 4.95% | 5.50% | 5.58% | 5.75% | 5.81% |
Min | 5.69% | 4.49% | 5.35% | 5.39% | 5.39% | 5.49% |
Max | 6.34% | 5.59% | 6.04% | 6.04% | 6.39% | 6.49% |
Rate statistics, correct: September 11, 2026.
Source: www.canstar.co.nz. Based on owner-occupier loans available for $500,000, at 80% LVR and principal & interest repayments; excluding first home buyer only and green only loans in Canstar's database.
Latest investment mortgage rates
Here is an overview of the current minimum and maximum rates for investor home loans on our database:
| Investment Mortgage Rates | |||||
|---|---|---|---|---|---|---|
| Floating | 1-year fixed | 2-year fixed | 3-year fixed | 4-year fixed | 5-year fixed |
Average | 6.14% | 5.18% | 5.58% | 5.64% | 5.68% | 5.76% |
Min | 6.14% | 4.95% | 5.29% | 5.45% | 5.45% | 5.49% |
Max | 6.14% | 5.59% | 6.05% | 5.99% | 5.99% | 6.09% |
Rate statistics, correct: September 11, 2026.
Source: www.canstar.co.nz. Based on owner-occupier loans available for $500,000, at 80% LVR in Canstar's database.
Latest bank mortgage rates
Here is an overview of the current carded rates from the banks on our database:
Rate statistics, correct: September 11, 2026.
