This morning ANZ has launched a new fighting rate in the mortgage wars.
It has a 2 year 'special' of 5.95%, 54 bps below their standard rate.
This change brings the ANZ 2 year rate to the BNZ and Westpac levels.
At the same time, ANZ has increased its 6 month fixed rate by 10 bps to 5.49% from 5.39%.
The Co-operative Bank has changed rates as well. Their six month fixed rate has risen 20 bps to 5.55%, and their one year fixed rate is up 16 bps to 5.65%.
Wholesale swap rates have resumed their upward climb yesterday after only a short respite.
As the April 24 OCR review gets closer, markets will likely price in even more increases.
The 90 day bank bill rate reached 3.15% yesterday, its highest level since February 2011.
See all banks' carded, or advertised, home loan rates here.
ANZ's latest fixed rates compare as follows:
| below 80% LVR | 1 yr | 18 mths | 2 yrs | 3 yrs | 5 yrs |
 |
5.85% | 5.99% | 5.95% | 6.85% | 7.40% |
 |
5.85% | 5.99% | 6.49% | 6.85% | 7.40% |
 |
5.69% | 5.85% | 5.95% | 6.29% | 7.20% |
| Kiwibank | 5.69% | 5.99% | 6.40% | 7.20% | |
 |
5.85% | 5.99% | 5.95% | 6.85% | 7.40% |
| Co-op Bank | 5.65% | 5.85% | 5.99% | 6.35% | 7.10% |
 |
5.59% | 5.79% | 6.55% | 7.20% | |
 |
5.50% | 5.75% | 5.90% | 6.20% | 6.85% |
| TSB | 5.40% | 5.85% | 5.99% | 6.40% | 7.20% |
--------------------------------------------------------------
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 »
--------------------------------------------------------------
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.