ANZ, our biggest mortgage lender, raises most fixed home loan rates, but cuts its 6 month one. It also raises TD rates for 1 year & longer

ANZ, which has a $116 bln mortgage book, the largest in the country, has followed Westpac and raised most of its fixed home loan rates.

But it has used the opportunity to set its rates slightly below Westpac for the two year fixed term. Like Westpac ANZ has made no change to its one year rate, and like Westpac has cut its six months fixed rate to match the Red Bank.

One thing it did do that Westpac didn't, is raise its 18 month fixed rate, by +20 bps, to 4.69% and that is now the highest 18 month rate of any bank (except TSB).

ANZ has also added +10 bps, +20 bps or +30 bps to its term deposit rate card.

ASB, BNZ and Kiwibank are the three main banks that have yet to move fixed home loan rates.

To compare mortgage rate offers in a way that includes the application and account fees costs (or break fee costs if you need to do that), and applying the impact of a cashback/legal fee reimbursement, or other incentive, you can use our home loan comparison calculator. You can find it here. Or, for convenience, we have added it to the bottom of this article.

We sense the ability to achieve meaningful discounts from carded rates is now much harder, so the impact of the incentives offered are currently playing an outsized role. Reader-reported mortgage rates are welcome. So please record them if you have them in the comment section below, which helps us stay on top of this aspect 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 here.

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 December 16, 2025	%	%	%	%	%	%	%
ANZ	4.69 -0.10	4.49	4.69 +0.20	4.69 +0.20	5.09 +0.30	5.69 +0.30	5.69 +0.30
	4.85	4.49	4.45	4.49	4.79	5.09	5.15
	4.79	4.49	4.45	4.49	4.79	4.99	4.99
	4.75	4.49		4.49	4.85	5.19	5.39
	4.69 -0.20	4.49	4.45	4.75 +0.30	5.05 +0.30	5.29 +0.30	5.29 +0.30
Bank of China	4.68	4.28	4.38	4.58	4.78	4.95	4.95
China Construction Bank	4.79	4.49	4.49	4.49	4.79	4.99	4.99
Co-operative Bank	4.65 -0.14	4.45	4.49	4.79 +0.30	5.09 +0.30	5.29 +0.30	5.49 +0.30
ICBC	4.69	4.25	4.29	4.59	4.79	4.99	4.99
	4.99	4.49	4.49	4.65	4.85	4.99	4.99
	4.99	4.39	4.75	4.49	4.89	5.19	5.39