Rate rises keep coming for mortgages. These latest allow TSB Bank to hold on to near market-leading claims for terms of two years and longer

The next bank to announce fixed mortgage rate increase is TSB Bank, who have made across the board changes today (Wednesday, February 1, 2017).

They have raised both their Standard and the Special rates.

Update: And later today they raised their floating rates by +16 bps to 5.65%

A minimum deposit of 20% is required for home loan 'special' interest rates. The details that follow all relate to these rates.

There was no change made to either their shortest 6 month rate, which remains at 4.75%, or their longest rate, a unique ten year fixed offer, which remains at 5.75%.

However, TSB Bank's one year rate has been raised by +20 bps to 4.45%.

Their 18 month rate has been raised by +30 bps to 4.75%.

And their two year rate is up +16 bps to 4.65%.

For three years, the rise is +30 bps to 4.99%, while the four year rate is up a similar amount to 5.40%.

For five years fixed the hike is a little less at +16 bps to 5.45%.

There were no equivalent term deposit rate changes made at this time

Wholesale money costs are rising and putting margin pressure of banks. The margin pressure banks claim is mostly real.

Today's changes do alter who has the leading carded rates for mortgage borrowers. HSBC Premier has the market leading position for all terms at this time. Other than HSBC Premier, the banks who now have the lowest bank rates include Kiwibank (2 rates), the Co-operative Bank (1 rate), TSB Bank (4 rates).

See all banks' carded, or advertised, home loan rates here.

A snapshot from the key retail banks is:

below 80% LVR  1 yr  18 mth  2 yrs   3 yrs  4 yrs  5 yrs 
  % % % % % %
4.45 5.05 4.75 5.49 5.70 5.85
ASB 4.59 4.75 4.79 5.09 5.49 5.69
4.59 5.05 4.79 5.09 5.89 6.09
Kiwibank 4.35   4.65 5.05 5.55 5.65
Westpac 4.49 5.05 4.79 5.09 5.69 5.49
4.55 4.70 4.85 5.15 5.55 5.65
HSBC 4.19 4.29 4.39 4.69 5.09 5.29
HSBC 4.45 4.75 4.75 5.09 5.45 5.69
4.45 4.75 4.65 4.99 5.40 5.45

In addition to the above table, BNZ has a fixed seven year rate which is 6.15%.

TSB Bank has a ten year fixed rate of 5.75% and that is unchanged in today's update.

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?

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Where is everyone who said sub 4 rates were on the way last year? All gone quiet?

Sub 4% talk ended when the big four banks had their credit ratings downgraded. Then Trump volatility happened.

The only one being effected currently are mainly people not in the market, end of storey

Whoa glad a fix 6 mortages with them yesterday. Just on time! 1yr 18 month 2yr 3yr 4yr and 190k at 10 yr. I don't think we're going to stay sub 6 much longer given the trump effect our ocr moving up this year.