On the eve of the Reserve Bank's last Official Cash Rate (OCR) review of the year, ANZ NZ has announced cuts to fixed-term home loan rates of up to 26 basis points.
ANZ says cuts to its carded, or advertised, fixed-term home loan rates take effect Wednesday, November 27, when the Reserve Bank is expected to reduce the OCR from 4.75%.
ANZ's biggest cuts are 26 points shaved off its six-month rates, and 20 basis points reduced from its one-year and 18-month rates.
The bank's also cutting term deposit rates by up to 25 basis points.
See all banks' carded mortgage rates here.
See all banks' carded term deposit rates for one to nine months here, and for one to five years here.
But carded rates are one thing. Actual off-card rates are often lower.
Competition is pointed at present. And to avoid queering the pitch, a lot of home loan rate activity is going on 'off-card'.
We have cleared the table below of these reader-reported mortgage rates, because they are so fluid. We need to be reporting current rates from readers. Let us know what you are seeing.
Almost all banks will have some flexibility in their rate offers. So the carded rates are just the start. Negotiate. How flexible they may be will depend on the strength of your financials.
One useful way to make sense of the changed home loan rates is to use our full-function mortgage calculator which is below.
Term deposit rates can be assessed using this calculator.
And if you already have a fixed term mortgage that is not up for renewal at this time, our break fee calculator may help you assess your options. Break fees will be minimal in a rising market. But they become important in a falling market, like now. Don't forget, when you sign up for a fixed rate you are signing a contract. You have been given the right to break it in legislation but the bank has the right to reclaim its costs when you do so. This is NOT evidence of banks making it hard to switch (as some borrowers, and sadly some journalists seem to think).
Here is the updated snapshot of the lowest advertised fixed-term mortgage rates on offer from the key retail banks at the moment. It will probably change after the Reserve Bank's Monetary Policy Statement and OCR changes on Wednesday.
| Fixed, below 80% LVR | 6 mths | 1 yr | 18 mth | 2 yrs | 3 yrs | 4 yrs | 5 yrs |
| as at November 27 2024 | % | % | % | % | % | % | % |
| ANZ | 6.24 -0.26 |
5.79 -0.50 |
5.59 -0.20 |
5.59 -0.10 |
5.59 -0.10 |
6.19 | 6.19 |
| current reader-reported rates | 6.19 | 5.74 | |||||
 |
6.39 | 5.99 | 5.79 | 5.69 | 5.69 | 5.79 | 5.79 |
| current reader-reported rates | 6.29 | 5.79 | 5.59 | 5.59 | 5.59 | 5.69 | 5.69 |
 |
5.99 | 5.95 | 5.89 | 5.69 | 5.69 | 5.59 | 5.59 |
| current reader-reported rates | 5.99 | 5.79 | 5.69 | 5.65 | 5.59 | 555 | 5.55 |
 |
6.49 | 5.79 | 5.69 | 5.69 | 5.69 | 5.69 | |
| current reader-reported rates | |||||||
 |
6.45 | 5.99 | 5.89 | 5.65 | 5.65 | 5.59 | 5.59 |
| current reader-reported rates | |||||||
| Bank of China | 6.65 | 5.99 | 5.79 | 5.69 | 5.69 | 5.49 | 5.49 |
| China Construction Bank | 6.50 | 5.99 | 5.79 | 5.69 | 5.69 | 6.40 | 6.40 |
| Co-operative Bank | 6.39 | 5.99 | 5.89 | 5.75 | 5.69 | 5.69 | 5.69 |
| Heartland Bank | 5.65 | 5.59 | 5.55 | 5.55 | |||
| ICBC | 6.39 | 5.99 | 5.79 | 5.65 | 5.59 | 5.49 | 5.49 |
 |
6.60 | 6.15 | 5.79 | 5.69 | 5.69 | 5.69 | 5.69 |
 |
6.45 | 5.69 | 5.89 | 5.69 | 5.69 | 5.69 | 5.69 |
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71 Comments
Read the tea leaves. The "real" 6 month ANZ rate is (until online banking reflects these changes) 6.19 at the moment. 1 year is 5.79.
So if you just focus on the change, 6 month goes to 5.93, 1 year goes (back) to 5.59. It may shake out slightly differently, but still, you'll beat 5.99 on the 6 month IRL.
That depends somewhat on what BNZ are offering actually for the 6 month though...
Bad hair day or something Yves?
One would argue that this has aged far worse...
https://www.bayleys.co.nz/listings/residential/canterbury/christchurch/…
Only a fool would design a house without eaves in Nu Zilund...
Dude... seriously
Did you give up or were you struck off?!
https://www.harcourtsgold.co.nz/listing/pi52852-8-blencathra-place-west…
Yves without eaves, designer of leakers, destroyer of wealth
Preaching on a financial blog
You couldn't make this stuff up
You know, if you spent less time stalking Team DGM across interest.co you might actually be a successful businessman
For years I would have bet the farm on you being Ashley Church in real life… such was the level of spruiking for the armour-plated NZ property market
To find out you are motel owner that employs a few cleaners is such a disappointment. It’s like finding out Satoshi is Ben Bernanke
Especially when I compare it to TTP who for all his ills and convictions, at least built a nationwide business (the vampire squid of real estate brokers) and is the slumlord for half of Palmy’s rental stock !
You know, if you spent less time stalking Team DGM across interest.co you might actually be a successful businessman
He only mentioned that a comment didn't age too well, and in reality, it sounds like he is very successful so I'm usure where this is coming from? Yvil tends to place objective comments 80% of the time and doesn't constantly spruik for house prices to increase like many. End of the day there was opportunity for social housing in motels and he took that, and indeed does employ people (shrug).
“Yvil tends to place objective comments 80% of the time and doesn't constantly spruik for house prices to increase like many.”
You might be unaware that he operates multiple accounts to spruik from. Yves has been spamming the comments section on interest for years, aiming to deceive others. Perhaps this doesn’t bother you, and you’re comfortable conversing with different personas of the same individual.
Don’t be surprised if others are completely over the charade. His ego ultimately exposed his real-life identity. His actions reveal dishonesty and a lack of trustworthiness.
In Google search for the following. Then you can change your Google search filters for specific time period.
- site:interest.co.nz "by username"
- site:interest.co.nz "by username" "keyword" "keyword"
- site:interest.co.nz "by foxglove" "dgm"
It's not perfect, you'll get results for all articles that you've commented on and includes "dgm" somewhere in the comments section, not necessarily your comments containing dgm.
https://www.google.com/search?q=site%3Ainterest.co.nz+%22by+foxglove%22…
Your quick look may have missed that they both live in the same suburb, both are french, both spruik the same narrative of house prices only go up, or how Yves and his family were holidaying in Cote D’Azur (the French Riviera) in September.
Quite timely that the Cote D’Azur account was created a year before Yves planned holiday in Europe..
"You might be unaware that he operates multiple accounts to spruik from"
"has been spamming the comments section on interest for years, aiming to deceive others"
"His actions reveal dishonesty and a lack of trustworthiness"
Yet, the truth is I have only one singular account, and I never had another one. (D Chaston could confirm this).
So, where does that leave Time Lord's false accusations, and what kind of a person does that make him ?
Hopefully come 1 March 2025 those that enter posts here under different monikers will be disinclined to do so unless of course it of such necessity, for reasons likely only known to them, to be able to make themselves heard by two weak voices instead of one and thus be compelled to pay for it. As well the little coven of tittle tattle back scratching posters, that enrol here every election year should hopefully likewise be discouraged by having to pay for the dribble they invariably produce.
"I don’t like bullies or BS artist"
So, what do you think about your own post (copy below). Don't you think searching someone up on the internet with the specific aim of denigrating them, is bullying ? Have a look in the mirror Ddddebt, and look closely if you really want to be the person looking back at you.
by DDDDebt | 26th Nov 24, 5:53pm
Bad hair day or something Yves?
One would argue that this has aged far worse...
https://www.bayleys.co.nz/listings/residential/canterbury/christchurch/…
Only a fool would design a house without eaves in Nu Zilund...
Why do you feel the need to find out some stranger's identity on the internet? Is it because Yvil said something you don't like and you're trying to intimidate him into silence?
People should be able to comment freely within the rules of the site without fear someone will smear their personal details on the internet. See if you can find him on Facebook and add him as a friend so he can stoop to your level and share all your details on Interest.co.
I realise it wasn't a dig at me.
To answer your question, I had my Architectural business for 18 years. With the benefit of hindsight, I should have perhaps entered into a partnership with a project manager (maybe you?). I always enjoyed the design aspect, but I disliked project management, and to be frank, I don't think I was very good at it. Through property investment (mostly commercial) done while practising Architecture, I reached a stage when I didn't need the income from Architecture anymore. Then I lost my house in the Chch earthquake and decided to make two big changes; 1) move up to Auckland 2) give up Architecture.
I hope you appreciate the openness and honesty.
Thanks. That’s refreshingly interesting. Taking the liberty here to opine from a small base of knowledge. But from my experience of the careful considered approach by all the professional Swiss I have encountered over business it would be the antithesis of that form to provide building design and architecture that is sub standard. For a start given the climate that Switzerland endures and the presence of building structures, still sound and operational, built before New Zealand was even put entirely on a map, the challenge of satisfying New Zealand conditions would be rather reduced in comparison, I would suggest, leaving aside the natural disasters that are too often in play.
Well said Foxglove. Actually I found NZ very refreshing because I saw a lot more freedom and liberties in many aspects of life compared to Switzerland. I remember in the 1990's going for a hike near Milford Sound which was incredibly steep and dangerous and thinking to myself "My god, I could die here, this would never be allowed in Switzerland", but at the same time I loved that freedom. Forward 30 years and NZ has also become full of well meaning protectionist rules and bylaws. The building code used to fit in one single folder. Today, of course it's online, but I would guess it has become 10 times bigger.
Keep in mind that 10-year government bonds influence mortgage rates, which aren’t solely tied to central bank interest rates. While central banks primarily affect shorter-term rates (up to 2 years), longer-term bonds often move independently. Since the Fed Chair’s rate cut on September 18th, the bond market has shifted, with 10-year yields climbing. This suggests the market might not be convinced inflation is under control.
When asked at the first rate cut whether the “war on inflation” had been won, Fed Chair Jerome Powell responded, “No, it is too early to say,” though he expressed hope inflation would continue to decline, leaving room for uncertainty.
My guess is the 10 year bond yield will start going down again (it has already dropped about 25 bps since a fortnight ago) as people realize that the demand is simply just not there. You can force higher prices as much as you want to consumers, people can only afford to pay so much after paying the interest on their loans. We can only wait for January and see what policies Trump actually implement compared to what he says he will implement, and measure along the way. Personally, I don't think Trump will be the inflation monster people expect it to be, but only time will tell.
Im thinking the best option for the RBNZ is too hold .... in the face of possible tariffs / global friction and where the NZD is sitting ... Of course banks will want easing on their books but there is a certain amount of volatility about that many are keen too disregard ... My 10 cents...
The RBNZ has swung too far too fast of late. Agree that they should not make the same mistake now. In recognition of a drastically deteriorating local economy but also acknowledging the potentially inflationary geopolitical instability that you refer to, a tentative 0.25 cut may be in order.
So prior to the last OCR announcement we could fix at 5.59% for 1 year, a second announcment and ANZ is only offering 5.74% via the app, how is this possible, are we getting screwed over for waiting for another drop already?? Surely they will drop shortly after this afternoon's OCR annoucement.
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