Major NZ banks raise fixed mortgage rates as wholesale costs climb
ANZ, BNZ, ASB and Westpac have all lifted fixed home loan rates this week, citing increased global uncertainty and higher funding costs.
New Zealand's major banks are raising fixed home loan rates across multiple terms. ANZ began the increases on Wednesday, with increases of 10 to 26 basis points, followed quickly by BNZ, ASB and Westpac. The banks attributed the moves to rising wholesale funding costs and global economic uncertainty. Some banks also lifted term deposit rates as part of the changes.
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Coverage across the news outlets we track, as at publication.
What outlets are saying
Stuff
Big bank raises fixed home loan rates, also lifts term deposit rates
ANZ bank is making changes to a range of fixed home loan and term deposit rates.
1News
NZ's largest bank hikes home loan rates as Middle East conflict bite
ANZ said its fixed home loan rates would rise across terms of six months to three years, effective Thursday.
NZ Herald
NZ’s biggest bank increases mortgage rates amid ‘global uncertainty’
ANZ will raise fixed home loan rates by 10 to 26 basis points.
1News
Another big bank hikes home loan rates amid Mideast war
BNZ has raised its fixed home loan rates by up to 0.20%, becoming the latest lender to blame a surge in wholesale funding costs.
interest.co.nz
BNZ raises fixed home loan rates
A third bank moves to higher fixed mortgage rates, but a flatter set from two years fixed and longer. BNZ's move leaves a short window of opportunity to access currently lower ASB and Kiwibank home loan rates
Stuff
Second big bank follows NZ’s biggest bank in raising home loan rates
A second major bank is lifting its home loan rates this week, following the country’s biggest retail bank, ANZ, raising theirs on Wednesday.
1News
Major bank latest to lift home loan rates as wholesale costs climb
The bank joins the country's largest bank, ANZ, along with Westpac and BNZ, in raising home loan and term deposit rates.
interest.co.nz
ASB raises fixed home loan rates
The last of the big Aussie banks raises fixed home loan rates in this cycle, and some term deposit rates. But these changes are undistinguished from its main rivals