Compare mortgage interest rates in NZ

Interest rates are always a hot topic in mortgage news. With a better understanding of your options and what’s going on in the market, you won’t break into a sweat every time interest rates go up or down.

Scroll down to find the latest rates compared every which way as well as some handy tools.

Want an even better than advertised rate and some cash back too? Chat to a mortgage adviser.

NZ’s best advertised rates by term

TermRateLender
6 Months fixed6.75%ANZ
12 Months fixed5.99%TSB
18 Months fixed5.89%ANZ
2 Years fixed5.69%ANZ
3 Years fixed5.69%ANZ
4 Years fixed5.59%Westpac
Revolving8.15%The Co-operative Bank
Floating7.65%The Co-operative Bank

Rates sourced from MortgageRates.co.nz. Interest rates subject to change. T&Cs apply.

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Hear JB's take on the latest OCR announcement and what it means for interest rates

Interest rates stated are accurate to the best of our knowledge at the time of filming, and any opinions expressed are JB's own views and are not financial advice. Interest rates are ever-changing, and we're still yet to find a reliable crystal ball. As always, we recommend seeking advice from your Mortgage Adviser before taking any action.

All of New Zealand's latest advertised mortgage rates

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Special rates are for loans with a deposit of 20% or more

The Big 5 Lenders
Best rates in this group in bold

Rates sourced from MortgageRates.co.nz. Interest rates subject to change. T&Cs apply.

Want to save hundreds of thousands on your mortgage?

Find out how small changes you make now can save you a packet in the long run, helping you get rid of your mortgage faster. Our easy-to-digest guide has everything you need to know in one place.

Squirrel Refix Guide

Why choose Squirrel to get you the best rate?

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Access to the best interest rates

We arrange around $3 billion of loans per year which gives us negotiating power and access to better interest rates, and cash backs from the bank where possible.

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More choices

We deal with more lenders than other brokers, giving you more options.

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Our advisers aren't incentivised by lenders

They get paid the same no matter which lender you end up with, so their only motivation is to make you better off.

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Better technology

Our online application takes less than 10 minutes, and will help us focus on what's most important to you.

Book a chat with us and let's talk about your options

Want to chat to an expert about your situation and get your questions answered? Book a spot in our diary and one of our team will give you a call at your chosen time.

More banks means more choices and a better deal.

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We have access to more lenders than other brokers – and if you don't quite fit the bank's box we can step in with our own custom solution for you.

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It pays off to get your mortgage reviewed regularly

Apart from the fact that it costs nothing to have an expert take a look at your situation and provide personalised advice, here are a few reasons why it's a good idea.

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Save thousands over the life of your loan

We're not talking peanuts here, you could save thousands in interest and in some cases get a cash contribution from the bank. Seems like a no-brainer.

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If your lifestyle has changed, so should your mortgage

Maybe you've started a family, maybe you're heading towards retirement. Whatever life stage you're at, make sure your mortgage is structured the right way, right now.

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Stay on the best interest rate

Getting just a small amount shaved off your interest rate can make a difference to your monthly payments, leaving more money in your back pocket - not to mention getting your home loan paid off quicker.

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You don't necessarily have to switch banks to get a better rate

Your Squirrel mortgage adviser can often renegotiate your mortgage with your current bank, saving you the hassle of switching if you're happy where you are.

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Get your mortgage right and it's the easiest money you'll make.

Our team of mortgage brokers are whizzes at perfecting a mortgage structure, and negotiating hot rates (plus hefty cash backs where possible).

Rather than putting all your eggs in one basket at one interest rate, depending on your situation we'll usually advise splitting your mortgage across different terms and rates. We stay on top of the economy and rate movement so we’ll help you make an informed decision.

Why bother getting so technical?

The devil is really in the detail. When we’re talking hundreds of thousands of dollars, a fraction of a percent change in interest or repayment rates can save you a packet. This could mean retiring to your super yacht a few years earlier than planned. If that's your thing.

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Frequently asked questions relating to interest rates

Read our latest news and views on mortgage rates

Keep your finger on the pulse so you can make informed decisions.

All articles

Close up image of a man turning out his empty pocket

11 October 2024


Opinion: Banks aren’t passing on the benefit of lower rates where it matters

By John Bolton

Short-term fixed rates have remained stubbornly high in the wake of recent OCR cuts. But with bank margins now up near record levels, Squirrel founder JB is urging lenders to starting passing the benefits of rate cuts onto customers where it matters.

Young couple dancing around their living room, surrounded by moving boxes

9 October 2024


Wellington property market & OCR update - October 2024

By Nick Virtue

In what will be welcome news for borrowers, the RBNZ dropped the OCR by 0.50% on 9th October—which should mean greener shoots are on the way. Nick Virtue, one of our resident mortgage experts in Wellington, explains what it means for interest rates.

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9 October 2024


NZ property market & OCR update – October 2024

By John Bolton

The RBNZ has ramped up the pace on interest rate cuts, delivering a 0.50% reduction to the OCR on 9th October. And with more big cuts seemingly in the pipeline, here's what that means for interest rates, the wider economy and New Zealand's housing market.

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