Our largest home loan lender ANZ has now responded to the Westpac and BNZ fixed rate moves lower with their own mortgage rate cuts, leaving ASB and Kiwibank as the other majors yet to respond

ANZ has announced that it too is reducing home loan fixed rates. It has adjusted its carded rates lower by between -4 bps and -20 bps.

It is matching main rivals Westpac and BNZ for terms 1 year, 18 months and 2 years.

Its new lower rates for 3, 4 and 5 years are not as low as Westpac or BNZ however - at least for the carded rates.

Its new -15 bps lower rate for six months fixed however beats all its main rivals, and almost matches the market-low 4.98% from the Bank of China.

More broadly, ICBC's 4.55% one year rate is by far the lowest fixed rate for any term on offer at present.

ANZ did not announce term deposit rate cuts at the same time, but they are sure to follow in a few days.

Wholesale swap rates are in a falling trend, even if they haven't fallen over the past seven days. They are now at more than a three year low.

And we should possibly also note that the housing market is in rare atmosphere - falling interest rates when house prices are also falling and showing no signs of ending that trend let alone rising. Lower interest rates are not giving the support to the housing market as reflected in prices many assumed they would. Having said that, transaction volumes are still at good levels; excessive stock is keeping it a buyers market

The reader-reported mortgage rates are welcome, 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 banks 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 27, 2025	%	%	%	%	%	%	%
ANZ	4.99 -0.15	4.75 -0.04	4.75 -0.04	4.75 -0.14	4.99 -0.10	5.59 -0.20	5.59 -0.20
	5.12	4.79	4.79	4.89	5.09	5.49	5.69
	5.09	4.75 -0.04	4.75 -0.04	4.75 -0.14	4.95 -0.04	5.09 -0.30	5.39 -0.20
	5.09	4.79		4.89	5.15	5.59	5.79
	5.09	4.75	4.75	4.75	4.95	5.09	5.39
Bank of China	4.98	4.68	4.68	4.78	4.88	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)	5.09	4.69*	4.79	4.89	4.99	5.39	5.49
ICBC	5.09	4.55 -0.14	4.79	4.89	4.99	5.35	5.39
(*=FHB only)	5.19	3.99*	4.79	4.89	5.09	5.39	5.39
	5.09	4.75	4.99	4.75	4.99	5.39	5.49