New residential mortgage standard interest rates (B20)
This data tracks the average mortgage rates advertised by banks in New Zealand. These are the 'standard' rates offered to new borrowers. Any special discounts are excluded from this statistic.
Data files
| Previous years: | Monthly: | ||||||
|---|---|---|---|---|---|---|---|
| Dec 2020 | Dec 2021 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | |
| New standard residential mortgage interest rates (average % end of month) | |||||||
| Floating1 | 4.51 | 4.91 | 6.54 | 6.65 | 6.99 | 7.33 | 7.81 |
| 6 months1 | 3.90 | 4.48 | 5.56 | 5.71 | 6.16 | 6.43 | 6.85 |
| 1 year1 | 3.34 | 4.20 | 5.48 | 5.72 | 6.18 | 6.46 | 6.82 |
| 18 months1 | 3.23 | 4.47 | 5.76 | 5.92 | 6.43 | 6.57 | 6.88 |
| 2 years1 | 3.51 | 4.73 | 5.91 | 6.06 | 6.47 | 6.75 | 7.08 |
| 3 years1 | 3.34 | 4.97 | 6.05 | 6.18 | 6.58 | 6.69 | 7.07 |
| 4 years1 | 3.70 | 5.25 | 6.38 | 6.40 | 6.86 | 6.90 | 7.28 |
| 5 years1 | 3.78 | 5.42 | 6.44 | 6.44 | 6.90 | 6.94 | 7.32 |
The data: coverage, periodicity and timeliness
Coverage characteristics
New customer standard 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 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 (for example, 30% equity) are excluded from the results.
Please note that we publish the same floating interest rate source 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
| 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.
Related statistics
View our other Exchange and interest rate statistics series.