The country's largest mortgage lender raises its carded home loan rates too, with more than me-too increases. Unlike some, they raised term deposit rates at the same time

Hot on the heals of BNZ (who followed Westpac), the country's largest home loan lender, ANZ, has raised almost all its fixed mortgage rates.

A feature of their new rates is that it positions their rate card as the highest of all the main banks.

Perhaps oddly, it has left BNZ with lowish rates by comparison even after BNZ's move up earlier in the day. The differences aren't insignificant either.

ANZ's new rates are the highest of any bank for 1 year, 18 months, and three, four and five years.

There were swap rate falls today, but they were minor and don't undercut the rising cost aspect that motivated these recent rises.

Like Westpac, but unlike BNZ, ANZ has also raised term deposit rates, but only for terms one to five years. Longer term deposit rates are not popular with savers, so even though it might seem like offsetting rises, in fact it won't be (unless savers change their savings rollover habits - which is unlikely). So this is a clear net gain for the banks.

However savers might like to consider a change of attitude. ANZ's new two year TD rate is 4.10%, three years is 4.40%, four years is 4.60% and five years is 4.70%. Who knows, perhaps 5% TD rates might appear sometime soon, or if not 'soon', then sooner than savers might have expected.

We should note that 4%+ rates challenge residential housing investment net yields (and in many cases residential housing investment gross yields in many cases too).

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.

Negotiate. How flexible banks may be will depend on the strength of your financials.

One other 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 March 19, 2026	%	%	%	%	%	%	%
ANZ	4.49	4.59 +0.10	4.89 +0.20	5.09 +0.20	5.39 +0.20	6.09 +0.20	6.19 +0.20
	4.59	4.59	4.75	4.95	5.19	5.55	5.69
	4.49	4.49	4.69 +0.05	4.89 +0.20	5.29 +0.30	5.49 +0.30	5.69 +0.40
	4.49	4.49		4.89	5.25	5.69	5.79
	4.49	4.59	4.85	5.19	5.29	5.39	5.59
Bank of China	4.38	4.48	4.48	4.58	4.88	5.28	5.28
China Construction Bank	4.69	4.49	4.49	4.54	4.90	5.10	5.20
Co-operative Bank	4.49	4.49	4.69	4.89	5.19	5.55	5.69
ICBC	4.39	4.39	4.49	4.59	4.99	5.09	5.19
	4.69	4.49	4.69	4.89	5.15	5.55	5.69
	4.59	4.39	4.75	4.69	4.99	5.19	5.29