News
Rates change all the time. Keep up to date with the latest activity so you can manage your mortgage and pay-it-off faster.
Borrowing strategies changing
Borrowing strategies for people with home loans are changing as New Zealand starts on the next part of its interest rate cycle.
Floating rates find legs
After months soaring at well over 10%, floating mortgage rates are now firmly in sub-10% territory. Lenders have been cutting hard and fast since the Reserve Bank reduced the official cash rate (OCR) by 100 basis points two weeks ago to 6.5%.
Withdrawal of lending from GE affects non-banks
Mortgage lenders have this week been considering how they will cope with the decision by lender GE to stop funding loans through third parties in New Zealand and Australia.
Rates dropping while funding dries up
We have had the mother of all rate cuts recently, with the Reserve Bank slashing 100 basis points off its official cash rate. Thankfully many of the lenders have passed on much of this decrease to borrowers with reduced home loans.
Keen for the best rate and some cash too?
We've teamed up with award winning mortgage experts, Squirrel.
With over 1,425 five star reviews on Shopper Approved, Squirrel has helped thousands of Kiwis just like you secure the best possible rate when refixing or refinancing. Squirrel often beats the advertised rates so it's worth getting them to review your mortgage.
Ryan
New Zealand
The service I got from Squirrel was extremely efficient. They dealt with my loan so easily and achieved a result greater than what I was expecting.
Jo
New Zealand
Highly recommend Squirrel to sort out a mortgage with the banks takes the hassle out of going to separate banks with so much information they do the hard yards for you - Baz was a superstar and helped me all the way to my new home.