Current Mortgage Rates in New Zealand

Compare the latest mortgage interest rates from New Zealand's largest lenders and find the best mortgage rates for your home loan

6 months

Rates sorted from lowest to highest

ASB Bank

Updated 2 months ago

4.49%

BNZ Bank

Updated 4 months ago

4.49%

Kiwibank

Updated 4 months ago

4.49%*

or 5.39%

SBS Bank

Updated 2 months ago

4.49%*

or 5.09%

Co-operative Bank

Updated 2 months ago

4.59%*

or 5.09%

ANZ Bank New Zealand

Updated 2 weeks ago

4.69%*

or 5.29%

Westpac New Zealand

Updated 1 month ago

4.69%*

or 5.29%

TSB Bank

Updated 1 week ago

4.69%*

or 5.49%

* Special rate - conditions apply

1 year

Rates sorted from lowest to highest

ASB Bank

Updated 1 month ago

4.65%

BNZ Bank

Updated 1 month ago

4.65%

SBS Bank

Updated 1 month ago

4.69%*

or 5.29%

Kiwibank

Updated 1 month ago

4.75%*

or 5.65%

ANZ Bank New Zealand

Updated 2 weeks ago

4.79%*

or 5.39%

Westpac New Zealand

Updated 4 weeks ago

4.79%*

or 5.39%

TSB Bank

Updated 1 week ago

4.79%*

or 5.59%

Co-operative Bank

Updated 1 week ago

4.79%*

or 5.29%

* Special rate - conditions apply

18 months

Rates sorted from lowest to highest

ASB Bank

Updated 1 month ago

4.95%

BNZ Bank

Updated 1 month ago

4.95%

SBS Bank

Updated 1 month ago

4.95%*

or 5.55%

Westpac New Zealand

Updated 4 weeks ago

5.09%*

or 5.69%

Co-operative Bank

Updated 1 week ago

5.15%*

or 5.65%

ANZ Bank New Zealand

Updated 2 weeks ago

5.19%*

or 5.79%

TSB Bank

Updated 1 week ago

5.19%*

or 5.99%

* Special rate - conditions apply

2 years

Rates sorted from lowest to highest

BNZ Bank

Updated 1 month ago

5.19%

Westpac New Zealand

Updated 3 months ago

5.19%*

or 5.79%

SBS Bank

Updated 1 month ago

5.19%*

or 5.79%

ASB Bank

Updated 1 month ago

5.25%

TSB Bank

Updated 1 month ago

5.25%*

or 6.05%

Kiwibank

Updated 1 month ago

5.29%*

or 6.19%

Co-operative Bank

Updated 1 week ago

5.39%*

or 5.89%

ANZ Bank New Zealand

Updated 2 weeks ago

5.49%*

or 6.09%

* Special rate - conditions apply

3 years

Rates sorted from lowest to highest

Westpac New Zealand

Updated 7 hours ago

5.29%*

or 5.89%

BNZ Bank

Updated 1 month ago

5.39%

SBS Bank

Updated 4 weeks ago

5.39%*

or 5.99%

ASB Bank

Updated 1 month ago

5.49%

Kiwibank

Updated 1 month ago

5.55%*

or 6.35%

TSB Bank

Updated 1 week ago

5.59%*

or 6.39%

Co-operative Bank

Updated 1 week ago

5.65%*

or 6.15%

ANZ Bank New Zealand

Updated 1 week ago

5.69%*

or 6.29%

* Special rate - conditions apply

4 years

Rates sorted from lowest to highest

Westpac New Zealand

Updated 7 hours ago

5.39%*

or 5.99%

BNZ Bank

Updated 2 months ago

5.59%

SBS Bank

Updated 1 month ago

5.59%*

or 6.19%

ASB Bank

Updated 1 month ago

5.69%

Co-operative Bank

Updated 1 week ago

5.85%*

or 6.35%

Kiwibank

Updated 1 month ago

5.89%*

or 6.59%

TSB Bank

Updated 1 month ago

5.89%*

or 6.69%

ANZ Bank New Zealand

Updated 2 weeks ago

6.39%

* Special rate - conditions apply

5 years

Rates sorted from lowest to highest

Westpac New Zealand

Updated 7 hours ago

5.49%*

or 6.09%

BNZ Bank

Updated 2 months ago

5.79%

SBS Bank

Updated 1 month ago

5.79%*

or 6.39%

ASB Bank

Updated 1 month ago

5.89%

Kiwibank

Updated 1 month ago

5.99%*

or 6.69%

TSB Bank

Updated 1 month ago

5.99%*

or 6.79%

Co-operative Bank

Updated 1 week ago

5.99%*

or 6.49%

ANZ Bank New Zealand

Updated 1 week ago

6.49%

* Special rate - conditions apply

Variable floating

Rates sorted from lowest to highest

Co-operative Bank

Updated 6 months ago

4.99%

Kiwibank

Updated 3 months ago

5.75%

Heartland Bank

Updated 8 months ago

5.75%

ANZ Bank New Zealand

Updated 5 months ago

5.79%

ASB Bank

Updated 6 months ago

5.79%

TSB Bank

Updated 6 months ago

5.79%*

or 6.59%

BNZ Bank

Updated 6 months ago

5.84%

SBS Bank

Updated 6 months ago

5.84%

Westpac New Zealand

Updated 6 months ago

5.89%

* Special rate - conditions apply

How Do Mortgages Work in New Zealand?

Mortgages are home loans that allow you to buy property by repaying against the value of the house. Understanding how mortgages work is crucial when comparing mortgage rates and choosing the right home loan for your situation.

What Are Mortgage Interest Rates?

Mortgage interest rates determine how much you'll pay to repay money for your home loan. These rates can be fixed or floating and significantly impact your monthly mortgage payments.

How Much Can I Repay for a Mortgage?

Most lenders in NZ will lend up to 80% of the property value without mortgage insurance. Your repayment capacity depends on your income, expenses, and deposit size.

Are Mortgages Worth It?

For most New Zealanders, mortgages provide an affordable path to homeownership compared to saving the full purchase price, especially with current mortgage rates.

When Will Mortgage Rates Go Down?

Mortgage rates fluctuate based on the Official Cash Rate and economic conditions. Stay updated with our rate tracking to know when mortgages rates change.

Common Mortgage Questions

Can I get a mortgage in NZ?

Yes, both residents and eligible non-residents can get mortgages from NZ lenders, subject to lending criteria and deposit requirements.

How are mortgages calculated?

Mortgage payments are calculated based on the loan amount, interest rate, and loan term. Our calculator helps you understand your potential payments.

Can mortgages be transferred?

Yes, some mortgages are portable and can be transferred to a new property, while others may require refinancing with your current or new lender.

Are mortgages tax deductible?

For investment properties, mortgage interest may be deductible. For your family home, mortgage payments are generally not tax deductible in New Zealand.

Understanding Mortgage Types

What mortgages are available?

NZ lenders offer fixed-rate mortgages, floating rates, and split loans. Each has different benefits depending on your financial situation.

How long are mortgages?

Most mortgages in New Zealand are structured over 25-30 years, though shorter terms can reduce total interest paid.

Can mortgages be paid off early?

Yes, most mortgages allow early repayment, though some fixed-rate loans may have break fees for early payment.

Will mortgage rates go down?

Mortgage rates are influenced by the Reserve Bank's Official Cash Rate and economic conditions. Track rate changes with our monitoring tools.

Need Help Choosing the Right Mortgage?

Our platform helps you compare mortgage rates, calculate payments, track rate changes, and manage your home loan journey in New Zealand.

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