Statistics New residential mortgage special interest rates - B21

New residential mortgage special interest rates - B21

Released
09 January 2020 03:00 p.m.
Next release
10 February 2020 03:00 p.m.
Source
Reserve Bank of New Zealand
Periodicity
Monthly
Data files
New residential mortgage special interest rates - B21 (2017-current) (XLSX 13.63 KB)
Technical note on new yields B6 and new interest rate B21 series (Nov 2018) (PDF 554.63 KB)
Previous years: Monthly:
Dec 2017 Dec 2018 Aug 2019 Sep 2019 Oct 2019 Nov 2019 Dec 2019
New special residential mortgage interest rates (average % end of month)
6 months1 4.93 4.95 4.37 4.33 4.14 4.00 4.00
1 year1 4.52 4.09 3.66 3.52 3.49 3.41 3.38
18 months1 4.63 4.23 3.80 3.70 3.76 3.63 3.53
2 years1 4.65 4.28 3.66 3.44 3.40 3.44 3.49
3 years1 4.94 4.50 3.95 3.81 3.85 3.83 3.82
4 years1 5.48 4.97 4.31 4.09 4.14 4.09 4.11
5 years1 5.64 5.07 4.38 4.16 4.21 4.15 4.19
  1. The interest rates recorded here are simple averages of the special advertised (or ‘discounted’) first mortgage interest rates offered by banks to new borrowers for residential property. Special rates or discounts are offered to borrowers who meet specific lending criteria, terms or conditions (e.g. at least 30 percent equity). May not be available to all borrowers.

Coverage, Periodicity, and Timeliness of Data

Coverage

New customer special residential mortgage average interest rates at the end of month for registered banks.

Periodicity

Monthly.

Timeliness

Data is published five working days after the end of the reference period.

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.

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

A copy of the survey template and definitions is available here.

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 standard residential mortgage average interest rate

The interest rates recorded here are simple averages of the special advertised (or ‘discounted’) first mortgage interest rates offered by banks to new borrowers for residential property. Special rates or discounts are offered to borrowers who meet specific lending criteria, terms or conditions (e.g. at least 30 percent equity). May not be available to all borrowers.

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.