{"id":392949,"date":"2026-04-23T00:38:09","date_gmt":"2026-04-23T00:38:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/392949\/"},"modified":"2026-04-23T00:38:09","modified_gmt":"2026-04-23T00:38:09","slug":"bnz-undercuts-rivals-kiwibank-anz-and-westpac-as-it-hikes-key-mortgage-rates","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/392949\/","title":{"rendered":"BNZ undercuts rivals Kiwibank, ANZ and Westpac as it hikes key mortgage rates"},"content":{"rendered":"

ANZ had also lifted its special one-year fixed rate by 10bps to 4.69%.<\/p>\n

ASB has the lowest one-year fixed rate among the big five banks at 4.59%, but is the last bank yet to announce any mortgage rate increases in the current round.<\/p>\n

BNZ also said its two-year fixed home loan rate would increase 20bps to 5.09%, in line with ASB.<\/p>\n

However, the rate remains 20bps lower than ANZ and Kiwibank (5.29%) and 10bps better than Westpac (5.19%).<\/p>\n

The major banks have been lifting mortgage rates again as wholesale interest rates have risen.<\/p>\n

More economists \u2013 including those at ANZ, ASB and Infometrics \u2013 have brought forward their Official Cash Rate (OCR) forecasts, with expectations that the Reserve Bank (RBNZ) could now announce three hikes this year<\/a>.<\/p>\n

Some aren\u2019t ruling out the first of those coming as early as May.<\/p>\n

But Kiwibank economists have warned that raising interest rates too soon could be \u201creckless\u201d<\/a> and \u201crisks a repeat of past mistakes, potentially inducing a recession\u201d.<\/p>\n

Instead, they maintain a \u201cwait and see\u201d approach through most of this year.<\/p>\n

The Kiwibank economists said New Zealand was likely to see a contraction in economic activity in the current quarter, though this won\u2019t be played out in data for months to come.<\/p>\n

\u201c[The second-quarter Consumers Price Index] isn\u2019t out until July, after the RBNZ\u2019s decision, and to know if inflation sticks around, we really need to see Q3 data at the very least,\u201d they said.<\/p>\n","protected":false},"excerpt":{"rendered":"ANZ had also lifted its special one-year fixed rate by 10bps to 4.69%. ASB has the lowest one-year…\n","protected":false},"author":2,"featured_media":392950,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[95,696,12465,806,28500,138,14724,100302,1345,21325,702,4277,95012,11534,661,16400,111,139,69,7676,9424,1865,203027,203026,17239],"class_list":["post-392949","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-and","tag-announced","tag-anz","tag-as","tag-bnz","tag-business","tag-further","tag-hikes","tag-home","tag-increases","tag-it","tag-key","tag-kiwibank","tag-lending","tag-major","tag-mortgage","tag-new-zealand","tag-newzealand","tag-nz","tag-rates","tag-rivals","tag-today","tag-undercut","tag-undercuts","tag-westpac"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/392949","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=392949"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/392949\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/392950"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=392949"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=392949"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=392949"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}