If you're looking for the cheapest home loan, it's essential to do your homework and shop around.
Mortgage rates have softened slightly over the past few weeks, but there remains a wide disparity between what's on offer.
For example, regular fixed rates start at 4.59%, while long-term fixed mortgages top out at 6.49% and the average floating rate sits at 5.95%.
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 | 6.02% | 4.93% | 5.48% | 5.57% | 5.75% | 5.81% |
Min | 5.34% | 4.49% | 5.29% | 5.39% | 5.39% | 5.49% |
Max | 6.19% | 5.59% | 6.04% | 6.04% | 6.39% | 6.49% |
Rate statistics, correct: August 21, 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: August 21, 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:
