Kiwibank extends 6 month mortgage special rate of 5.4% by an extra week to May 9 after "big response from home loan market"

Kiwibank extends 6 month mortgage special rate of 5.4% by an extra week to May 9 after "big response from home loan market"

Kiwibank has announced it will extend its record low 6 month mortgage special rate of 5.4% for an extra week to Monday, May 9.

The special launched on April 14 was due to expire at the end of April. Once the special has expired, Kiwibank's 6 month rate will return to 5.75%, Kiwibank said.

See our April 14 article on Kiwibank's special rate.

Kiwibank Communications Manager Bruce Thompson said the introduction of short-term rate specials had proved very effective in attracting new business.

“When the six-month special was launched, we promised to hold it until the end of the month. We’ll keep it open for the first week of May because we are still getting a big response from the home loan market," Thompson said.

Kiwibank is keeping its floating mortgage rate on 5.65%.

See all bank mortgage rates here.


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.

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.


Come on guys, at the end of the day, you just have get down and do it. LOL

You know it makes sense!

How embaressing! Kiwibank put's it's produce on sale, and it still has a remainder at the end of the limited time. "If it's not selling; drop the price" Rates have far further to fall, as the property buying impetus shrivells....

New Zealand, land of the million dollar shed ...

Ya, I am thrilled at the news, too. Finally, something new coming out of this exciting country :-)

 If you were the Auckland zookeeper, and you’d seen a Zark, a previously benevolent and benign animal, maul and disembowel your fellow zookeepers in London, Dublin, Los Angeles, Lisbon, Madrid, Athens and a number of other zoos; Would you keep feeding your Zark the same food, and not change your handling habits, just because it hadn’t attacked you, yet? Personally, I’d change its diet, and stand well clear…..

Or put it down.

I think Zark was mistreated in the other zoos and reacted accordingly. The other zoo never misttreated Zark and, reasonably, it never attacked...

The problem is, the Auckland Zoo just followed  'best practice', just like all the rest. Sure, it's a different location, with different keepers, but the animal is the same and has been treated similaly. Or are you suggesting that... "We're different"?....There is a place for the Zark. That's its natural environment, where it breeds, raises a family and treats it's property as a home. There, it is content, and doesn't need to attack in times of stress.

"Home Prices Fall" :- coming soon to a neighbourhood near you

"Brisbane which saw prices drop 4.6 per cent, ( that's an annualised rate of >18% !)... Unsurprisingly, the flooding that has occurred within South East Queensland has likely compounded Brisbane's weak market conditions,”

What?  I thought we were told that 'The Floods' would make 'good houses' more valuable and push up prices in unaffected areas....just like Christchurch will push up Auckland!...

And here's a good read " Profiting from a property slump " "The property-related industries (development, mortgage broking, renovations, REITs) will be hit hard and many will fall. However, those that survive with stable equity bases and decent cashflows will be heavily discounted as investors flee anything that is remotely involved with property......  And finally, when property investor blood is running through the streets and real estate agents start driving Kia’s, your author may even stop renting…" 

Brisbane saw a long boom and is correcting now. Nobody expects the price curve to be monotonic.

As to your dramatic prediction (running blood and what not) - it airn't going to happen. What's more likely is a side-wise movement for 6-12-18 months and then going up again...

(And I don't care much anyway, as a 10-20% change in value does not make much difference in my situation....)

Much as I appreciate your attribution of the expression re 'property investor blood in the street' to me, it's a quote from the captioned article. You'd know that, if you'd read it. ('s not going to be 10-20%....)

Your access to our unique content is free - always has been. But ad revenues are diving so we need your direct support.

Become a supporter

Thanks, I'm already a supporter.