HOT TOPICS:   Housing affordability  |  NZ$   | Inflation                                                     RESOURCES:    Economic calendar   |   Median multiples

The comment stream

Recent comments

Reader poll

In your opinion, what's the last thing someone should borrow money to pay for?

Choices

Join the Interest community to be a registered commenter so you can:
- Edit your comments
- Avoid the CAPTCHA
- Vote on comments
Register Here

Already registered? log back in here ..

Forgotten your password? No problem! Click here

Fixed rate mortgages below 5% are about to disappear from the market

Posted in News Updated

Special advisory: (Corrected)

Westpac have said that their 4.95% p.a. limited time special on their 6 month and 1 year fixed mortgage rates, where LVR <80%, will expire on Sunday, 20 January, 2013.

These are the only 4.95% rates left in the market*.

These were the last 4.95% rates left in the market offered by one of the big banks. TSB Bank is still offering 4.95% for a fixed 15 month term, and HSBC still offers 4.85% for six months*.

SBS/HBS removed their 6 month rate earlier this week, and ANZ removed theirs before Christmas.

Without a replacement, the Westpac rates will revert to their standard rates for these terms of 5.40%.

All current mortgage rates are set out on our comprehensive mortgage rate page, here »

(* HSBC does have a six month rate of 4.85% for their Premier customers, but to qualify you need to meet special criteria of a minimum value of NZD500,000 in home loans with HSBC in New Zealand (facility limit not outstanding balance); and/or a minimum value of NZD100,000 in savings and investments with HSBC in New Zealand.)

We welcome your help to improve our coverage of this issue. Any examples or experiences to relate? Any links to other news, data or research to shed more light on this? Any insight or views on what might happen next or what should happen next? Any errors to correct?

We welcome your comments below. If you are not already registered, please register to comment in the box on the right or click on the "'Register" link at the bottom of the comments.

Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current Comment policy is here.

4 Comments

According to my broker banks

According to my broker banks are most likely to be on the verge of releasing fresh new low rates - summer specials etc.

Floating 5.00% and 2 yrs fixed at 4.95% still available from most Aussie banks - all you need to do is hit them up for a deal - anybody who just runs with published bank rates is a fool!

Too true bigblue.. Statement

Too true bigblue.. Statement 1 "Is that your best offer?", Statement 2 "I've got quotes from X, Y & Z Bank and you're not quite at the money", Statement 3 "Goodbye"

ive been floating at 5% for

ive been floating at 5% for over a year now

Halfway through a 6month

Halfway through a 6month fixed at 4.95.  Intend to just keep fixing @ 6months. Sort of like a soggy float. Relatively quickly reverts to a floating rate anyway. 

I wouldn't panic about rising rates just yet.