Welcome to our new website.

Please note our navigation has changed, so any bookmarks that you have to pages on our site will need to be updated. Subscribers won’t be affected. If you have any queries or issues please contact [email protected]

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 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.

Previous years: Monthly:
May 2020 May 2021 Jan 2022 Feb 2022 Mar 2022 Apr 2022 May 2022
New standard residential mortgage interest rates (average % end of month)
Floating1 4.75 4.47 4.91 4.94 5.08 5.39 5.51
6 months1 4.35 3.85 4.46 4.50 4.70 4.94 5.04
1 year1 3.81 3.20 4.18 4.26 4.49 4.87 4.96
18 months1 3.85 3.18 4.47 4.51 4.76 5.19 5.33
2 years1 3.92 3.47 4.71 4.75 5.04 5.55 5.62
3 years1 4.09 3.40 4.96 5.00 5.22 5.73 5.81
4 years1 4.38 3.79 5.25 5.29 5.54 6.14 6.23
5 years1 4.48 4.02 5.42 5.47 5.69 6.35 6.42
[1] 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.

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.