Your browser is not supported

Our website does not support the browser you are using. For a better browsing experience update to a compatible browser like the latest browsers from Chrome, Firefox and Safari.

New residential mortgage special interest rates (B21)

This data tracks the special mortgage rates advertised by banks in New Zealand. Special rates are offered to borrowers who meet certain conditions specified by the bank, and are lower than the standard rates.

Previous years: Monthly:
Aug 2020 Aug 2021 Apr 2022 May 2022 Jun 2022 Jul 2022 Aug 2022
New special residential mortgage interest rates (average % end of month)
6 months1 3.37 3.16 4.47 4.57 5.18 5.19 5.06
1 year1 2.56 2.49 4.31 4.45 5.11 5.16 4.91
18 months1 2.66 2.70 4.75 4.85 5.41 5.48 5.28
2 years1 2.69 2.86 5.07 5.13 5.56 5.40 5.37
3 years1 2.78 3.18 5.33 5.38 5.84 5.84 5.62
4 years1 3.00 3.51 5.62 5.71 6.16 6.16 5.95
5 years1 3.07 3.83 5.86 5.95 6.29 6.29 6.01
[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.

The data: coverage, periodicity and timeliness

Coverage characteristics

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

Periodicity

Monthly.

Timeliness

We publish data five working days after the end of the reference period.

Access by the public

Data release

We release data on our Statistics section.

Statistics release calendar

The statistics release calendar provides a long-term plan of scheduled releases. We update and release the calendar on the first working day of the month.

View the statistics release calendar

Integrity

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

We collect data under Section 36 of the Reserve Bank of New Zealand Act 1989 (the Act).

Read the Reserve Bank of New Zealand Act 1989

We publish only aggregated data. Individual institutional data is confidential.

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

We generally publish revisions when we update and release the next table. Should we need to make revisions more promptly, we will post a special note on the website.

We post any major changes in methodology 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. 

Download the survey template and definitions

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

We publish data on the weighted floating first mortgage new customer housing rate.

View the Retail interest rates on lending and deposits (B3)

Interest.co.nz publishes mortgage interest rates for a range of terms.

New customer special residential mortgage average interest rate

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

Symbols and conventions for summary table

Symbol or convention Definition
0 Zero or value rounded to zero
- Not applicable
.. Not available
bold Revised/new
italics Provisional
Light grey 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.