After nobody followed its June 3, 2026 fixed home loan rate hike, ANZ is backing down and reversing those increases.
It's new one year rate is back matching ASB and BNZ at 4.65%.
Its new two year rate of 5.29% is still the highest in the market but it is back matching Kiwibank. BNZ and Westpac have lower carded rates at 5.19%.
And its new three year rate of 5.49% is mid-pack at 5.49% but matching Kiwibank. Westpac has a lower rate at 5.29% (and BNZ also has a lower rate but not as low as Westpac.)
In between ANZ's original move up and today, only TSB and SBS Bank raised fixed home loan rates. But importantly Westpac cut their rates. And wholesale swap rates didn't shift.
At the same time today ANZ has trimmed many term deposit rates by -10 bps, for term up to five months, and for all terms 1 year and longer. (It's two year TD rates is down by -20 bps.)
ANZ said this decision to decrease fixed rates "were a response to a fall in wholesale interest rates". You can find swap rates charted in the tool below.
... more soon
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 incentives, 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, (even with your mortgage broker). 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.
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 June 24 2026 | % | % | % | % | % | % | % |
| ANZ | 4.69 | 4.65 -0.14 |
5.19 | 5.29 -0.20 |
5.49 -0.20 |
6.39 | 6.49 |
 |
4.49 | 4.65 | 4.95 | 5.25 | 5.49 | 5.69 | 5.89 |
 |
4.49 | 4.65 | 4.95 | 5.19 | 5.39 | 5.59 | 5.79 |
 |
4.49 | 4.75 | 5.29 | 5.55 | 5.89 | 5.99 | |
 |
4.69 | 4.79 | 5.09 | 5.19 | 5.29 | 5.39 | 5.49 |
| Bank of China | 4.38 | 4.58 | 4.68 | 4.88 | 5.18 | 5.48 | 5.68 |
| China Construction Bank | 4.40 | 4.49 | 4.49 | 4.54 | 4.90 | 5.10 | 5.20 |
| Co-operative Bank | 4.59 | 4.79 | 5.15 | 5.39 | 5.65 | 5.85 | 5.99 |
| ICBC | 4.39 | 4.49 | 4.75 | 4.99 | 5.25 | 5.45 | 5.65 |
 |
4.49 | 4.69 | 4.95 | 5.19 | 5.39 | 5.55 | 5.69 |
 |
4.69 | 4.79 | 5.19 | 5.25 | 5.59 | 5.89 | 5.99 |
Fixed mortgage rates
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Daily swap rates
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