Current NZ Mortgage Rates 2026

Compare live rates from 50+ lenders. Fixed and floating options. Updated daily.

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Best Mortgage Rates Right Now

Updated March 2026

Fixed Rates

6 months

ANZ, BNZ

4.99%

1 year

All major banks

4.49%

18 months

ASB, Westpac

4.79%

2 years

ANZ, BNZ

4.99%

3 years

Westpac, Kiwibank

5.29%

4 years

BNZ, ASB

5.59%

5 years

ANZ, Kiwibank

5.79%

Floating Rates

Standard Floating

Most banks

7.44%

Revolving Credit

ANZ

7.69%

Offset Mortgage

ASB

7.54%

First Home Buyer Rates

Special rates from 4.29% available for eligible first home buyers with KiwiSaver HomeStart grant.

Learn more →
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Rate Trends

📈

Short-term rates (6-12 months)

Competitive rates as banks compete for market share. Best value for borrowers expecting further rate cuts.

📊

Medium-term rates (1-3 years)

Popular choice offering rate certainty. Typically best value for most borrowers.

🔒

Long-term rates (4-5 years)

Higher rates but maximum certainty. Good for risk-averse borrowers or if you expect rates to rise.

Expert Tips

💡

Split Your Mortgage

Consider fixing portions at different terms to balance flexibility and certainty.

⏰

Time Your Refixing

Start shopping for rates 60-90 days before your fixed term expires.

🔍

Compare Regularly

Rates change frequently. Even existing customers can often negotiate better rates.

Fixed vs Floating: Which is Better?

Fixed Rate Mortgages

Rate locked for chosen term (6 months to 5 years)
Predictable repayments make budgeting easier
Protected if interest rates rise
Can't benefit if rates drop
Break fees if you need to exit early
Limited extra repayment options

Best for: Borrowers wanting certainty and protection from rate rises

Floating Rate Mortgages

Benefit immediately if rates drop
Make unlimited extra repayments
No break fees - exit anytime
Flexible if circumstances change
Currently higher rates than fixed
Exposed to rate rises
Unpredictable repayments

Best for: Borrowers expecting rates to fall or needing maximum flexibility

Most Popular: Split Strategy

Many borrowers split their mortgage - fixing 70-80% for certainty while keeping 20-30% floating for flexibility and extra repayments. This balances security with the ability to pay off debt faster.

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Last updated: March 24, 2026 | Rates and information verified with RBNZ, bank websites