BNZ hikes mortgage rates, leaves deposit rates unchanged

Fixed-rate home loans will now cost more at BNZ. (Image: Deposit Photos)

Fri, 22 Oct 2021

Bank of New Zealand has raised its fixed-rate mortgage interest rates across the board but has left its deposit rates unchanged.It is hiking rates by between 25 basis points and 50bp with the biggest increase being to its five-year rates.The classic home loan's five-year rate has risen to 4.49% from 3.99% while its standard housing loans with Fly Buys five-year rate rose to 5.09% from 4.59%. That's still below ANZ's standard five-year rate of 5.34%.The rates rising the least are the 18-month and one-year rates with the classic rates...

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