Compare mortgage interest rates in NZ
Interest rates are always a hot topic in mortgage news. With a better understanding of your options and what’s going on in the market, you won’t break into a sweat every time interest rates go up or down.
Scroll down to find the latest mortgage rates compared every which way as well as some handy tools.
Want an even better than advertised home loan rate and some cash back too? Chat to a mortgage adviser.
All of New Zealand's latest advertised mortgage rates
Showing
With
Special Rate
Special rates are for loans with a deposit of 20% or more
| ANZ | 6 Months 5.09% | 1 Year 5.19% | 18 Months 5.49% | 2 Years 5.69% | Revolving 6.40% | Floating 5.79% |
| ANZ Special | 6 Months 4.49% | 1 Year 4.59% | 18 Months 4.89% | 2 Years 5.09% | Revolving – | Floating – |
| ASB | 6 Months 4.49% | 1 Year 4.59% | 18 Months 4.85% | 2 Years 5.09% | Revolving 5.89% | Floating 5.79% |
| BNZ | 6 Months 4.49% | 1 Year 4.59% | 18 Months 4.79% | 2 Years 4.89% | Revolving 5.94% | Floating 5.84% |
| Kiwibank | 6 Months 5.39% | 1 Year 5.49% | 18 Months – | 2 Years 5.99% | Revolving 5.75% | Floating 5.75% |
| Kiwibank Special | 6 Months 4.49% | 1 Year 4.59% | 18 Months – | 2 Years 5.09% | Revolving 5.75% | Floating – |
| Westpac | 6 Months 5.09% | 1 Year 5.19% | 18 Months 5.45% | 2 Years 5.79% | Revolving 5.99% | Floating 5.89% |
| Westpac Special | 6 Months 4.49% | 1 Year 4.59% | 18 Months 4.85% | 2 Years 5.19% | Revolving – | Floating – |
Rates sourced from MortgageRates.co.nz.
Advertised interest rates require a minimum of 20% equity and are subject to change. T&Cs apply.
How much could I save by refinancing?
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Want to save hundreds of thousands on your mortgage?
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Unlock cash back when you switch banks
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Find out how much cash back you could get just by switching banks. Book a chat today.
| Loan amount | Estimated cashback* |
| $300k - $400k | $2,400 - $3,600 |
| $400k - $500k | $3,200 - $4,500 |
| $500k - $600k | $4,000 - $5,400 |
| $600k - $700k | $4,800 - $6,300 |
| $700k - $800k | $5,600 - $7,200 |
| $800k - $900k | $6,400 - $8,100 |
*Cashback amount shown is indicative only, actual cash back will vary depending on individual circumstances and lender T&C's.
Hear our take on the latest mortgage rates
Interest rates stated are accurate to the best of our knowledge at the time of filming, and any opinions expressed are the mortgage adviser's own and don’t constitute financial advice. Interest rates are ever-changing, and we're still yet to find a reliable crystal ball. As always, we recommend seeking advice from your Mortgage Adviser before taking any action.
Why choose Squirrel to get you the best rate?
Access to the best interest rates
We write about $3 billion of home loans per year which gives us negotiating power and access to better interest rates, and cash backs from the bank where possible.
More choices
We deal with more lenders than other brokers, giving you more options.
Our advisers aren't incentivised by lenders
They get paid the same no matter which lender you end up with, so their only motivation is to make you better off.
Better technology
Our online application takes less than 10 minutes, and will help us focus on what's most important to you.
Book a chat with us and let's talk about your options
Want to chat to an expert about your situation and get your questions answered? Book a spot in our diary and one of our team will give you a call at your chosen time.
More banks means more choices and a better deal.
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*This calculator is intended as a guide for illustrative purposes only and is not intended to provide financial advice. The results are based on the information you enter and assume that interest rates and loan terms remain constant for the duration of the loan. It does not account for fees, fluctuating interest rates, or changes to your financial situation over time. Please note that actual borrowing amount may differ and interest rates are subject to change. To talk to one of our team at Squirrel, contact us here. We recommend seeking financial advice about your situation and goals before making any financial decisions.
It pays off to get your mortgage reviewed regularly
Apart from the fact that it costs nothing to have an expert take a look at your situation and provide personalised advice, here are a few reasons why it's a good idea.
Apart from the fact that it costs nothing to have an expert take a look at your situation and provide personalised advice, here are a few reasons why it's a good idea.
Save thousands over the life of your loan
We're not talking peanuts here, you could save thousands in interest and in some cases get a cash contribution from the bank. Seems like a no-brainer.
If your lifestyle has changed, so should your mortgage
Maybe you've started a family, maybe you're heading towards retirement. Whatever life stage you're at, make sure your mortgage is structured the right way, right now.
Stay on the best interest rate
Getting just a small amount shaved off your interest rate can make a difference to your monthly payments, leaving more money in your back pocket - not to mention getting your home loan paid off quicker.
You don't necessarily have to switch banks to get a better rate
Your Squirrel mortgage adviser can often renegotiate your mortgage with your current bank, saving you the hassle of switching if you're happy where you are.
Get your mortgage right and it's the easiest money you'll make.
Our team of mortgage brokers are whizzes at perfecting a mortgage structure, and negotiating hot rates (plus hefty cash backs where possible).
Rather than putting all your eggs in one basket at one interest rate, depending on your situation we'll usually advise splitting your mortgage across different terms and rates. We stay on top of the economy and rate movement so we’ll help you make an informed decision.
Why bother getting so technical?
The devil is really in the detail. When we’re talking hundreds of thousands of dollars, a fraction of a percent change in interest or repayment rates can save you a packet. This could mean retiring to your super yacht a few years earlier than planned. If that's your thing.
Frequently asked questions relating to interest rates
Read our latest news and views on mortgage rates
Keep your finger on the pulse so you can make informed decisions.
Watch the latest interest rates and property market updates
Watch our latest update on interest rates and the property market - covering house prices, the economy, the OCR and where mortgage rates might be heading.
OCR & interest rates update - April 2026
Between conflicting concerns around global inflation, and the state of the New Zealand economy, the RBNZ's latest OCR decision was always going to be tough—but ultimately it held steady at 2.25%. Here's what that means for borrowers, and the outlook on rates from here as the oil crisis remains ongoing.
All eyes on interest rates: Key OCR dates to watch for in 2026
With the OCR now sitting well below the RBNZ's estimated 'neutral' point of 3.00%, we're officially in stimulatory rate territory—but exactly how long we stay here remains to be seen. With that said, here's the key OCR dates you need to watch for in 2026.
Don’t just take our word for it
Liesel
New Zealand
Squirrel made our home-buying journey a breeze. Professional, friendly, and they really know their stuff. If you're looking for a broker that goes the extra mile, these are the guys
Jordan
New Zealand
Working with Blake on refinancing was seamless and we were kept in the loop at every stage. Thanks Blake!
Brylea
New Zealand
I honestly didn't think we were able to get a mortgage or a house. Blake Neve made this possible and fulfilled the ultimate dream for us. Blake is patient, willing to answer any questions under the sun and is externally supportive. I would recommend him over and over again!
Greer
New Zealand
Had a great experience with Mark helping me sort a home loan. He was friendly, helpful, and proactive.