New residential mortgage interest rates - B20

04 October 2018 03:00 p.m.
Next release
06 November 2018 03:00 p.m.
Reserve Bank of New Zealand
Previous years: Monthly:
Sep 2016 Sep 2017 May 2018 Jun 2018 Jul 2018 Aug 2018 Sep 2018
New residential mortgage interest rates (average % end of month)
Floating 5.64 5.75 5.77 5.77 5.77 5.77 5.77
6 months 5.08 5.10 5.13 5.14 5.14 5.14 5.09
1 year 4.90 4.90 4.84 4.86 4.83 4.81 4.78
2 years 5.06 5.08 5.02 5.02 5.01 5.00 4.93
3 years 5.22 5.33 5.27 5.28 5.26 5.26 5.09
4 years 5.25 5.73 5.69 5.68 5.65 5.61 5.38
5 years 5.62 5.95 5.90 5.89 5.86 5.80 5.56

The data: coverage, periodicity, and timeliness

Coverage characteristics

Average new customer mortgage interest rates at the end of month for registered banks.

Periodicity and Timeliness

Data is published monthly, approximately 5 weeks after the end of the reference month.

Access by the public

Data Release

Data is released on the Reserve Bank’s Statistics page.

Statistics release calendar

The Statistics Release Calendar provides a long-term plan of scheduled releases. It is updated and released on the first working day of the month.

View the Statistics Release Calendar page.


Dissemination of terms and conditions under which official statistics are produced, including confidentiality of individual responses

Data are collected under Section 36 of The Reserve Bank of New Zealand Act 1989 (The Act).

Read the Reserve Bank of New Zealand Act 1989.

The Reserve Bank of New Zealand publishes only aggregated data. Individual institutional data is confidential.

Provision of information about revisions and advance notice of major changes in methodology

Revisions are generally published when the table is next due to be updated and released. Should revisions need to be made more promptly, a note is posted on the website as a ‘special note’.

Any major changes in methodology are posted on the website as a special note..


Dissemination of documentation on methodology and sources used in preparing statistics

See the Survey template and definitions.

Dissemination of statistics that support statistical cross-check and provide assurance of reasonableness

The Reserve Bank publishes data on the weighted floating first mortgage new customer housing rate in the Retail interest rates on lending and deposits (B3). publishes mortgage interest rates for a range of terms.

New customer average rate

The interest rates recorded here are simple averages of the advertised (or ‘carded’), standard, first mortgage interest rates offered by banks to new borrowers for residential property. Any special rates or discounts offered to borrowers with conditions (e.g. 30 percent equity) are excluded from the results.

Some banks offer standard rates at terms other than those currently published (e.g. 18-month fixed rate or greater than 5 years) The RBNZ plans to make a wider range of rates available later this year when a longer series is established.

Please note that the same floating interest rate source is published as a weighted average advertised rate for standard first mortgage interest rate borrowers in the B3 web table compared to a simple average in B20 – so the two rates will not necessarily align.

Symbols and conventions for summary table

0 Zero or value rounded to zero
- Not applicable
.. Not available
bold Revised/new
italics Provisional
light red background Historical

General notes

  • Individual figures may not sum to the totals due to rounding
  • Percentage changes are calculated on unrounded numbers
  • You are free to copy, distribute and adapt these statistics subject to the conditions listed on our copyright page.