New residential mortgage interest rates - B20

Released
30 November 2017 03:00 p.m.
Next release
21 December 2017 03:00 p.m.
Source
Reserve Bank of New Zealand
Periodicity
Monthly
Previous years: Monthly:
Oct 2015 Oct 2016 Jun 2017 Jul 2017 Aug 2017 Sep 2017 Oct 2017
New residential mortgage interest rates (average % end of month)
Floating 5.99 5.64 5.86 5.88 5.89 5.89 5.89
6 months 5.29 5.12 5.23 5.23 5.23 5.22 5.22
1 year 5.04 4.93 5.05 5.04 5.04 5.04 5.05
2 years 5.25 5.06 5.29 5.30 5.27 5.24 5.25
3 years 5.41 5.23 5.63 5.64 5.62 5.59 5.57
4 years 5.39 5.23 5.83 5.84 5.83 5.82 5.84
5 years 5.72 5.61 6.29 6.30 6.29 6.27 6.25

Coverage, Periodicity, and Timeliness of Data

Coverage

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 website

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.

Integrity

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).

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.

Quality

Dissemination of documentation on methodology and sources used in preparing statistics

Copy of 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).

Interest.co.nz 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 other terms (e.g. 18-month fixed rate, seven-year fixed rate) but these are not collected by the Reserve Bank. 

Symbols and conventions for summary table

0 Value rounded to zero
- Zero or 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.