ANZ is the latest bank to remove its short-term fixed rate mortgage 'special' offer; brings its standard rates into line with most other banks

ANZ has changed two short-term fixed mortgage rates.

This follows yesterday's announcement from Kiwibank withdrawing their 6 month fixed "pre-Christmas special.

On Saturday morning, ANZ removed their 4.95% "special <80% LVR" for fixed terms of both six months and one year.

In their place, they have new 5.25% Standard rates - for six months this is a reduction of 35 bps from 5.60%, and for the one year fixed term this is a reduction of 20 bps from 5.45%.

All other ANZ mortgage rates are unchanged at this time.

Only Westpac currently has a "special" offer for the six month and one year term, which is 4.95% where the LVR is 80% or less.

You can find all current mortgage rate offers here.

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 »

Here is a current market comparison of rate offers for mortgages with a one year fixed term:

  1 years fixed
ANZ 5.25%
ASB 5.45%
BNZ 5.25%
Kiwibank 5.25%
Westpac - Special 4.95%

Other banks have these offers for the same term:

The Co-operative Bank 4.99%
HBS Bank 4.95%
HSBC Premier 5.25%
SBS Bank 4.95%
TSB Bank 5.25%

A borrower's ability to negotiate lower rates will depend on the strength of their financial situation and their overall relationship with their bank.

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Sunday breakfast thinking!....why so many are about to lose so much that was earning so little ...
Mark Kiesel, portfolio manager at Pimco says: “If you think central banks will be successful in reflating, you do not want to own long maturity fixed-rate bonds.
“We are in a very unique time with central banks suppressing volatility and interest rates. You want to take less duration and have less interest rate risk and look for growth opportunities that will outperform over time.”
In Noddyland this means going for property...following the pollies and their mates...remember the rule..they will always look after themselves before failing to look after you.

Hey Wolly,
Nodding and yeping....yep, yep, yeppp... Noddy and Yeppy... Land!