Compare NZ Mortgage Rates

Current home loan rates from 8 major New Zealand banks, updated daily.

Updated 16 May 2026 at 6:08 am

Kiwibank raised rates on 2 terms this week. 92 rates unchanged. ▲ 2 increases 92 unchanged

Best Special Rates

Lowest rates available today

Special rates require 20% equity (80% LVR or lower). Conditions may apply.

6 months

4.49%

5 banks

1 year

4.55%

Co-op Bank

18 months

4.95%

3 banks

2 years

5.19%

4 banks

3 years

5.29%

SBS

4 years

5.39%

Westpac

5 years

5.59%

Westpac

This Week's Movements

Rate changes since 11 May 2026

Showing banks that moved rates in the last 5 days.

Kiwibank

2 rate changes

▲ Increases

1yrspecial4.65%→4.75%+0.10%

1yrstandard5.55%→5.65%+0.10%

Special Rates

20% equity required. Conditions may apply.

Special

Bank	6mo	1yr	18mo	2yr	3yr	4yr	5yr
ANZ	4.49%	4.69%	4.99%	5.29%	5.49%	-	-
ASB	4.49%	4.65%	4.95%	5.25%	5.49%	5.69%	5.89%
BNZ	4.49%	4.65%	4.95%	5.19%	5.39%	5.59%	5.79%
Westpac	4.69%	4.69%	4.99%	5.19%	5.35%	5.39%	5.59%
Kiwibank	4.49%	▲4.75%	-	5.29%	5.55%	5.89%	5.99%
TSB	4.59%	4.59%	5.09%	5.19%	5.49%	5.69%	5.79%
SBS	4.49%	4.69%	4.95%	5.19%	5.29%	5.59%	5.79%
Co-op Bank	4.59%	4.55%	4.99%	5.29%	5.49%	5.75%	5.89%

▲ Rate increased this week▼ Rate decreased this week

Standard Rates

Available to all borrowers regardless of equity.

Standard

Bank	6mo	1yr	18mo	2yr	3yr	4yr	5yr
ANZ	5.09%	5.29%	5.59%	5.89%	6.09%	6.19%	6.29%
ASB	4.49%	4.65%	4.95%	5.25%	5.49%	5.69%	5.89%
BNZ	4.49%	4.65%	4.95%	5.19%	5.39%	5.59%	5.79%
Westpac	5.29%	5.29%	5.59%	5.79%	5.95%	5.99%	6.19%
Kiwibank	5.39%	▲5.65%	-	6.19%	6.35%	6.59%	6.69%
TSB	5.39%	5.39%	5.89%	5.99%	6.29%	6.49%	6.59%
SBS	5.09%	5.29%	5.55%	5.79%	5.89%	6.19%	6.39%
Co-op Bank	5.09%	5.15%	5.49%	5.79%	5.99%	6.25%	6.39%

▲ Rate increased this week▼ Rate decreased this week

Calculate Your Mortgage Repayments

Use our free calculator to see how these rates affect your monthly payments, compare split loan options, and model offset accounts.

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FAQ

Frequently Asked Questions

What's the difference between special and standard mortgage rates?

Special rates typically require at least 20% equity (80% LVR) and may have additional conditions like minimum loan amounts or property types. Standard rates are available to all borrowers regardless of equity level, making them more accessible but generally higher.

Which NZ bank has the best mortgage rates?

The "best" rate depends on your specific situation, loan amount, equity level, and chosen term. Rates change frequently, so it's important to compare current rates across all major banks. Use our calculator to see how different rates impact your actual repayments.

How often do mortgage rates change in New Zealand?

NZ mortgage rates can change daily, weekly, or monthly depending on the bank and market conditions. Our rates are updated daily to give you the most current information when comparing home loan options.

Should I choose a fixed or floating mortgage rate?

Fixed rates lock in your repayments for 6 months to 5 years. Floating rates can change anytime but allow unlimited extra repayments. Many borrowers split their mortgage across multiple terms. Use our calculator to model different scenarios. For more FAQs visit our FAQ section.