BNZ matches ANZ's fixed mortgage rate cuts, and goes lower on two additional terms

BNZ has responded to Tuesday's fixed home loan rate cuts from ANZ.

Basically BNZ has matched ANZ for fixed rates of 12, 18 and 24 months.

But it has gone lower for its new six month carded rate, taking it down -20 bps to 5.09%. This new level is easily the lowest of any of the main banks, and almost matches the lowest of any bank.

And it has cut -10 bps from its three year rate, a move ANZ skipped. That takes the new BNZ rate for three years fixed to 4.99% and matching rival Westpac who has been at that level for some time.

Expect the other main banks to also respond soon to the ANZ lead on these rate cuts in their winter shakeup.

At this time, BNZ has not announced matching term deposit rates cuts.

Over the past week, wholesale swap rates have fallen on global risk aversion. (see chart below). But they haven't kept falling.

The reader-reported mortgage rates are fluid but may be less frequent now, so please record them if you have them. We need you to record them in the comment section below, which helps us stay on top of this fast-changing corner of the home loan rates market.

And still 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.

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.

Here is the snapshot of the lowest advertised fixed-term mortgage rates on offer from the key retail banks at the moment.

Fixed, below 80% LVR	6 mths	1 yr	18 mth	2 yrs	3 yrs	4 yrs	5 yrs
as at August 13, 2025	%	%	%	%	%	%	%
ANZ	5.14 -0.15	4.79 -0.16	4.79 -0.10	4.89 -0.06	5.09	5.79	5.79
	5.29	4.89	4.89	4.95	5.09	5.49	5.69
	5.09 -0.20	4.79 -0.10	4.79 -0.10	4.89 -0.06	4.99 -0.10	5.39	5.59
	5.29	4.89		4.95	5.15	5.59	5.79
	5.29	4.89	4.95	4.95	4.99	5.39	5.39
Bank of China	5.08	4.78	4.78	4.88	4.95	5.35	5.35
China Construction Bank	5.15	4.85	4.85	4.95	4.95	5.99	5.99
Co-operative Bank (*=FHB only)	5.25	4.75*	4.95	4.99	5.15	5.49	5.59
ICBC	5.15	4.85	4.85	4.95	5.05	5.35	5.39
	5.36	4.89	4.89	4.95	5.09	5.39	5.39
	5.49	4.89	5.09	4.95	5.29	5.79	5.89