![\"Bank](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/08\/bank-of-new-zealand-in-auckland-cbd-N2H4E3SXP5H6DLUIXGJO2AJPKY.png\")
<\/p>\nBNZ has raised its fixed home loan rates by up to 0.20%, becoming the latest lender to hike amid a surge in wholesale costs driven by the Middle East conflict.<\/p>\n
The changes take effect today for both new and existing customers.<\/p>\n
Across BNZ’s standard fixed housing loans, the six-month rate rose 0.10% to 4.79%, the one-year climbed 0.20% to 4.99%, and the 18-month increased 0.20% to 5.29%.<\/p>\n
The two-year, three-year and four-year rates all lifted to 5.45% – up 0.16%, 0.16% and 0.06% respectively. The five-year rate was unchanged at 5.49%.<\/p>\n
<\/p>\n
Bank of New Zealand in Auckland CBD. (Source: Google Maps)<\/p>\n
Variable home loan rates had already moved for new and existing customers from July 29, with the standard variable rate now at 6.09% and TotalMoney, Mortgage One and Rapid Repay rates all at 6.19%.<\/p>\n
The move follows similar decisions across the sector as ANZ raised its fixed rates yesterday<\/a>, and Westpac lifted its one to three-year terms last week. <\/p>\n Both banks are pointing to a surge in wholesale interest rates amid renewed war in the Middle East.<\/p>\n Three big banks move to hike<\/p>\n ANZ, the country’s largest bank, raised its fixed rates by up to 0.26% across terms of six months to three years, taking its one-year special rate to 4.99% yesterday. <\/p>\n The morning’s headlines in 90 seconds, including Jetstar\u2019s carry-on changes, and Ariana Grande addresses her fans. (Source: 1News)<\/p>\n ANZ personal banking managing director Grant Knuckey said wholesale rates had “increased significantly in recent months amid uncertainty surrounding the conflict in the Middle East, making offshore funding more expensive”.<\/p>\n “Banks get their funding for lending from a variety of sources, including borrowing from global wholesale markets,” he said.<\/p>\n “When global uncertainty pushes up those funding costs, it puts upward pressure on lending interest rates, including home loans.<\/p>\n “Wholesale rates have increased significantly in recent months amid uncertainty surrounding the conflict in the Middle East, making offshore funding more expensive.<\/p>\n “We aim to balance the needs of both borrowers and depositors while ensuring our rates reflect funding costs across the market.”<\/p>\n (Source: 1News)<\/p>\n Westpac’s earlier move<\/a> lifted its one-year special rate by 0.20% to 4.99<\/a>%, among other changes <\/p>\n Managing director of consumer bank and wealth Helen Ryder said “re-escalating tensions in the Middle East have once again driven up wholesale interest rates, causing bank funding costs to rise.” <\/p>\n “Most wholesale interest rates are now over 0.30% higher than they were a month ago, so with today’s changes we are passing on some of those higher costs but also absorbing some,” she said in a media release last week.<\/p>\n","protected":false},"excerpt":{"rendered":"BNZ has raised its fixed home loan rates by up to 0.20%, becoming the latest lender to hike…\n","protected":false},"author":2,"featured_media":559711,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[138,2917,111,43,139,69,244,814],"class_list":["post-559710","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-zealand","tag-business","tag-cost-of-living","tag-new-zealand","tag-news","tag-newzealand","tag-nz","tag-personal-finance","tag-property"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/559710","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=559710"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/559710\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/559711"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=559710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=559710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=559710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/08\/banks-nz-banks-kiwibank-asb-anz-westpac-bnz-6THFJH5DGJEEFJJ7OAEYMYEDFM.jpg\")
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