Kiwibank has made some small changes to its fixed rate mortgage offers.
It has increased its two year 'Special' for new home lending with a minimum of 20% equity to 5.99%, up 4 bps from 5.95%.
It has also raised its one year fixed mortgage rate by +4 bps to 5.49% from 5.45%.
And it has raised its fixed six month mortgage rate to 5.40%, up 15 bps from 5.25%.
Kiwibank's Canterbury rebuild specials have seen mirroring changes and continue to be 0.25% lower than standard fixed rates and 1% lower than standard variable rates.
Today's increases move Kiwibank back into line with the rate levels prevailing for the four major Australian-owned banks for terms up to three years.
They also probably reflect the holding of wholesale swap rates at the new higher levels which are being embedded in market expectations that there are major OCR rate hikes coming in 2014 and starting at the next OCR review on March 13.
You can see Bernard Hickey's analysis here.
At the same time as the Kiwibank changes, AMP Home Loans have also made similar increases.
See all carded, or advertised, bank home loan rates here.
| below 80% LVR | 1 yr | 18 mths | 2 yrs | 3 yrs | 5 yrs |
 |
5.49% | 5.85% | 6.29% | 6.65% | 7.20% |
 |
5.49% | 5.85% | 6.29% | 6.60% | 7.20% |
| BNZ | 5.39% | 5.85% | 6.29% | 6.39% | 7.20% |
| Kiwibank | 5.49% | 5.99% | 6.40% | 6.90% | |
 |
5.39% | 5.69% | 6.29% | 6.65% | 7.20% |
| Co-op Bank | 5.29% | 5.85% | 5.85% | 6.25% | 7.10% |
 |
5.39% | 6.29% | 6.55% | 7.20% | |
| SBS / HBS | 5.35% | 5.60% | 5.80% | 6.10% | 6.70% |
| TSB | 5.30% | 5.85% | 5.99% | 6.40% | 7.20% |
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Mortgage choices involve making a significant financial decision so it often pays to get professional advice. A Roost mortgage broker can be contacted by following this link »
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