[REVISION HISTORY]
New Zealand banks raise loan and mortgage rates
Updated 1 time since CLSTR started tracking revisions of this situation.
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2026-08-05 02:15 UTC → 2026-08-06 02:21 UTC ·
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New Zealand banks increase raise loan and mortgage rates
In early July, reports indicated that banks in Ireland and New Zealand were reported to be raising both deposit and loan rates. A few weeks later, the Bank of New Zealand announced introduced higher fixed‑rate mortgage products, with the two‑year rate moving to 5.45 % and the three‑ and four‑year rates matching it, while the five‑year rate stayed at 5.49 %. At the same time, the UK lender Nationwide cut trimmed its fixed‑rate mortgage offerings by up to 0.19 %, reflecting falling % as swap rates. rates fell. On 6 August 2026, ASB Bank announced increases to its fixed‑rate home loan prices by 10 to 26 basis points across six‑month to three‑year terms, and lifted term‑deposit rates by 10 to 20 basis points on six‑month to two‑year products. The sequence shows moves were described as a regional response to recent volatility in wholesale interest rates and align ASB’s mortgage rates with those of Westpac, leaving Kiwibank as the only major New Zealand mortgage lender yet to raise rates in this cycle. These actions extend the ongoing trend of New Zealand banks tightening loan pricing, contrasted with a modest easing of rates by a major UK mortgage provider. pricing.
Versions
- 2026-08-06 02:21 UTC New Zealand banks raise loan and mortgage rates
- 2026-08-05 02:15 UTC New Zealand banks increase loan and mortgage rates
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