Lowest NZ Home Loan Rate - ANZ cuts mortgage rates again.

Lowest NZ Home Loan Rate

ANZ Bank Home Loan rates have been reduced AGAIN!  Big news from the bank today as they announced a drop in its fixed rate loans to "well beyond historic lows."
The new ANZ fixed one-year fixed home loan rate is being offered at 2.79% p.a.


In a statement that was released by ANZ yesterday they say it will also offer fixed-rate specials on 18-month (3.05% p.a), 2-year (2.95% p.a) and 3-year (3.35% p.a) term loans.

The new home loan rates are currently the lowest home loan rate of their type in the country and they will be available from May 21.  The ANZ Managing Director Retail and Business Banking, Ben Kelleher said that these new rates will take fixed home loan rates “well beyond historic lows.”

“These new rates reflect a new reality where many home loan customers are facing uncertain times and our commitment to keeping rates as low as possible to help ease the pressure,” Mr Kelleher said.

“Putting more money back in the pockets of customers will enable them to repay debt, or support the wider New Zealand economy as the country recovers from restrictions brought on by Covid-19.”

If you are considering breaking your current fixed rate mortgage or applying for a new home loan then this is certainly one to consider.  ANZ says no decision had been made on how long the rate would be available and it would largely depend on market conditions, so act quickly to take advantage of these rates.

If you are unsure what is the best mortgage deal and approach for you then get in touch with Money Compare and we’ll help.  At Money Compare we can work with you to compare home loan rates and make a fully informed choice on your mortgage lending.  Get in touch today.


Thursday, 21 May 2020