Historical fixed term mortgage rates (new customer average rate)
(Percent per annum) As at end of month Nov-91 Dec-91 Jan-92 Feb-92 Mar-92 Apr-92 May-92 Jun-92 Jul-92 Aug-92 Sep-92 Oct-92 Nov-92 Dec-92 Jan-93 Feb-93 Mar-93 Apr-93 May-93 Jun-93 Jul-93 Aug-93 Sep-93 Oct-93 Nov-93 Dec-93 Jan-94 Feb-94 Mar-94 Apr-94 May-94 Jun-94 Jul-94 Aug-94 Sep-94 Oct-94 Nov-94 Dec-94 Jan-95 Feb-95 Mar-95 Apr-95 May-95 Jun-95 Jul-95 Aug-95 Sep-95 Oct-95 Nov-95 Dec-95 1 year 9.90 9.90 9.90 9.77 9.71 9.63 9.28 9.28 8.68 8.60 8.63 8.46 8.09 7.99 8.09 8.78 8.43 8.46 8.53 8.41 7.98 7.81 7.73 6.99 6.92 6.97 6.92 6.64 6.58 6.58 7.34 7.33 7.53 8.04 7.98 8.09 8.74 9.38 10.50 10.33 10.28 10.36 10.26 9.53 9.38 9.28 9.48 8.92 8.79 8.79 3 years .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 7.95 7.75 7.75 7.75 7.75 7.25 7.25 7.82 8.20 8.12 8.15 8.75 8.75 9.46 9.67 10.13 10.96 10.96 10.88 10.80 10.46 9.33 9.25 9.25 9.18 8.94 8.79 8.78
Historical fixed term mortgage rates (1991-1998).xls Ref #3089106 v4.1
Jan-96 Feb-96 Mar-96 Apr-96 May-96 Jun-96 Jul-96 Aug-96 Sep-96 Oct-96 Nov-96 Dec-96 Jan-97 Feb-97 Mar-97 Apr-97 May-97 Jun-97 Jul-97 Aug-97 Sep-97 Oct-97 Nov-97 Dec-97 Jan-98 Feb-98 Mar-98 Apr-98 May-98
8.93 8.98 9.12 9.52 10.44 10.95 10.95 10.86 10.56 10.46 9.99 9.77 8.98 8.89 8.88 9.27 8.74 8.52 8.21 9.08 9.05 8.92 8.89 8.85 9.78 9.70 9.69 10.02 9.70
8.98 9.10 9.20 9.76 10.68 10.92 11.08 10.99 10.31 9.96 9.31 8.97 9.09 9.18 9.28 9.81 9.66 9.50 8.70 9.01 9.23 8.84 8.75 8.84 9.54 9.31 9.24 9.66 9.46
Last updated 15 August 2007 Source: Reserve Bank of New Zealand
Historical fixed term mortgage rates (1991-1998).xls Ref #3089106 v4.1
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
A B C D E Specified loans on balance sheet (M3 institutions) - See Notes tab below for explanations Jun-98 Jul-98 New customer average rate 0.00% (end of month) E6 E6.1 Floating 11.17 10.01 E6.2 Capped .. .. Fixed (Time to rate reset) E6.3 6 months 10.00 8.85 E6.4 1 year 9.86 8.91 E6.5 2 years 9.82 9.01 E6.6 3 years 9.58 8.96 E6.7 4 years 9.43 8.97 E6.8 5 years 9.22 8.80 Last updated 31 August 2005 Source: Reserve Bank of New Zealand
F Aug-98 8.93 .. 7.77 7.91 8.28 8.45 8.56 8.53
9/15/2008
June 1998 - Nov 2004
G 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Sep-98 8.09 .. 6.82 7.22 7.85 8.08 8.17 8.18
H Oct-98 7.17 .. 5.96 6.45 7.21 7.63 7.90 7.94
I Nov-98 6.55 .. 5.75 6.01 6.97 7.21 7.53 7.63
J Dec-98 6.47 .. 5.74 6.09 6.92 7.10 7.50 7.53
K Jan-99 6.44 .. 5.74 6.26 6.94 7.18 7.48 7.63
L Feb-99 6.43 .. 5.74 6.22 6.82 7.04 7.37 7.50
M Mar-99 6.44 .. 5.69 6.22 6.69 7.02 7.30 7.45
N Apr-99 6.43 .. 5.74 6.05 6.65 6.95 7.32 7.46
O May-99 6.43 .. 5.81 6.18 6.79 7.25 7.63 7.83
9/15/2008
June 1998 - Nov 2004
P 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Jun-99 6.42 .. 5.86 6.27 7.05 7.55 7.95 8.16
Q Jul-99 6.44 .. 5.85 6.30 7.11 7.61 8.03 8.16
R Aug-99 6.44 .. 6.01 6.70 7.66 8.19 8.48 8.66
S Sep-99 6.47 .. 6.20 6.87 7.77 8.28 8.57 8.78
T Oct-99 6.63 .. 6.60 7.10 7.94 8.47 8.75 8.92
U Nov-99 6.64 .. 6.73 7.19 7.96 8.44 8.73 8.90
V Dec-99 7.04 .. 7.02 7.55 8.28 8.58 8.85 8.97
W Jan-00 7.46 .. 7.28 7.78 8.47 8.78 8.95 9.11
X Feb-00 7.53 .. 7.54 7.99 8.66 8.87 9.04 9.14
9/15/2008
June 1998 - Nov 2004
Y 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Mar-00 8.01 .. 7.85 8.00 8.57 8.78 8.90 8.95
Z Apr-00 8.03 .. 7.87 8.08 8.55 8.77 8.87 8.92
AA May-00 8.52 .. 8.24 8.44 8.70 8.88 8.97 9.02
AB Jun-00 8.71 .. 8.19 8.39 8.52 8.61 8.70 8.75
AC Jul-00 8.71 .. 8.01 8.26 8.35 8.44 8.50 8.55
AD Aug-00 8.57 .. 7.92 8.05 8.25 8.33 8.39 8.41
AE Sep-00 8.44 .. 7.90 7.94 8.24 8.28 8.34 8.37
AF Oct-00 8.43 .. 7.74 7.94 8.12 8.18 8.29 8.33
AG Nov-00 8.43 .. 7.31 7.93 8.08 8.13 8.23 8.24
9/15/2008
June 1998 - Nov 2004
AH 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Dec-00 8.43 .. 7.69 7.89 7.94 7.95 7.97 7.98
AI Jan-01 8.33 .. 7.27 7.34 7.35 7.44 7.51 7.52
AJ Feb-01 8.32 .. 7.24 7.04 7.16 7.40 7.56 7.65
AK Mar-01 8.15 .. 7.15 6.85 7.01 7.12 7.30 7.39
AL Apr-01 7.87 .. 6.94 6.78 7.17 7.36 7.52 7.62
AM May-01 7.62 .. 6.94 6.76 7.19 7.50 7.70 7.86
AN Jun-01 7.63 .. 6.94 6.97 7.43 7.76 7.94 8.06
AO Jul-01 7.62 .. 6.94 7.07 7.61 7.93 8.09 8.13
AP Aug-01 7.62 .. 6.91 6.96 7.45 7.78 7.96 8.07
9/15/2008
June 1998 - Nov 2004
AQ 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Sep-01 7.16 .. 6.51 6.52 6.98 7.34 7.62 7.76
AR Oct-01 7.11 .. 6.04 6.38 6.73 7.10 7.44 7.62
AS Nov-01 6.65 .. 5.63 6.06 6.59 7.04 7.41 7.58
AT Dec-01 6.64 .. 5.84 6.23 6.88 7.30 7.57 7.78
AU Jan-02 6.64 .. 5.98 6.31 6.97 7.46 7.77 7.93
AV Feb-02 6.63 .. 6.10 6.46 7.12 7.56 7.84 7.98
AW Mar-02 7.07 .. 6.90 7.21 7.78 8.13 8.33 8.49
AX Apr-02 7.37 .. 7.15 7.48 7.92 8.19 8.31 8.44
AY May-02 7.64 .. 7.16 7.51 7.92 8.17 8.28 8.41
9/15/2008
June 1998 - Nov 2004
AZ 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Jun-02 7.65 .. 7.16 7.48 7.87 7.97 8.12 8.21
BA Jul-02 7.87 .. 7.13 7.35 7.60 7.79 7.88 7.96
BB Aug-02 7.75 .. 6.94 7.18 7.40 7.56 7.67 7.76
BC Sep-02 7.75 .. 6.92 7.02 7.33 7.47 7.56 7.67
BD Oct-02 7.75 .. 6.79 6.94 7.14 7.35 7.49 7.54
BE Nov-02 7.75 .. 6.79 6.94 7.05 7.32 7.47 7.60
BF Dec-02 7.75 .. 6.92 6.89 7.20 7.38 7.52 7.67
BG Jan-03 7.73 .. 6.79 6.84 7.17 7.35 7.48 7.62
BH Feb-03 7.73 .. 6.73 6.76 6.92 7.00 7.07 7.20
9/15/2008
June 1998 - Nov 2004
BI 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Mar-03 7.73 .. 6.85 6.74 6.91 7.02 7.13 7.18
BJ Apr-03 7.62 .. 6.59 6.64 6.82 6.95 7.12 7.19
BK May-03 7.51 .. 6.24 6.30 6.35 6.59 6.75 6.83
BL Jun-03 7.26 .. 6.16 6.17 6.20 6.31 6.42 6.52
BM Jul-03 7.16 .. 6.27 6.17 6.24 6.47 6.68 6.77
BN Aug-03 7.03 .. 6.20 6.35 6.88 7.02 7.21 7.38
BO Sep-03 7.03 .. 6.20 6.40 6.80 6.99 7.25 7.37
BP Oct-03 7.02 .. 6.30 6.67 7.12 7.32 7.51 7.60
BQ Nov-03 7.06 .. 6.58 6.87 7.36 7.57 7.67 7.73
9/15/2008
June 1998 - Nov 2004
BR 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Dec-03 7.13 .. 6.59 6.89 7.39 7.60 7.69 7.74
BS Jan-04 7.18 .. 6.61 6.90 7.36 7.55 7.65 7.71
BT Feb-04 7.42 .. 6.67 6.86 6.99 7.47 7.58 7.64
BU Mar-04 7.45 .. 6.65 6.74 6.84 7.04 7.25 7.32
BV Apr-04 7.45 .. 6.64 6.78 6.90 7.13 7.29 7.39
BW May-04 7.71 .. 6.87 7.00 7.26 7.42 7.60 7.68
BX Jun-04 7.94 .. 7.22 7.38 7.64 7.75 7.93 8.01
BY Jul-04 7.90 .. 7.29 7.46 7.67 7.80 7.96 8.03
BZ Aug-04 8.18 .. 7.52 7.49 7.72 7.83 7.96 8.01
9/15/2008
June 1998 - Nov 2004
CA 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Sep-04 8.45 .. 7.63 7.63 7.63 7.69 7.78 7.80
CB Oct-04 8.45 .. 7.65 7.65 7.36 7.69 7.72 7.73
CC Nov-04 8.68 .. 7.65 7.53 7.12 7.67 7.70 7.69
9/15/2008
June 1998 - Nov 2004
Historical (pre Nov 2004) fixed term mortgage rates (new customer average rate)
November 1991 to May 1998 Average rates shown in this workbook pre June 1998 are indicative only. These have been compiled from often incomplete information from len Data quality improved from 1993 onwards when fixed mortgages became more widely available.
June 1998 to November 2004 Data from June 1998 to November 2004, reproduced in this workbook on tab "June 1998 - Nov 2004", have been sourced from the Standard Stat covering the average of M3 institutions' new customer rates. In this period, M3 institutions included all registered banks with large loan portfolio Access this data through the following link (in each workbook referred to below see tab "Loans on balance sheet", part E6, for New customer ave http://www.rbnz.govt.nz/statistics/monfin/discontinued/ssr/ssrpartE/hssr_part_e.xls
December 2004 onwards These data cover all registered banks and are currently published monthly on the Reserve Bank website. Access these data directly from the foll http://www.rbnz.govt.nz/statistics/monfin/rbssr/rbssrparte/hrb_ssr_part_e.xls
Proportion of fixed versus variable mortgage interest rate in bank portfolios
Percentage outstanding as at end of month
The Reserve Bank informally surveyed banks with large residential mortgage portfolios, as at August, from 1994 to 1997 for the proportion of fi Fixed (including capped) 7% 21% 41% 52%
Aug 1994 Aug 1995 Aug 1996 Aug 1997
Variable 93% 80% 59% 48%
For a more complete survey coverage of mortgage loans outstanding from Jun 1998 onwards, download the following workbooks: (in each workbook referred to below see tab "Loans on balance sheet", part E4 Residential mortgages - $m) M3 institutions (coverage from Jun 1998 to Nov 2004): http://www.rbnz.govt.nz/statistics/monfin/discontinued/ssr/ssrpartE/hssr_part_e.xls Registered Banks (coverage from Dec 2004 onwards): http://www.rbnz.govt.nz/statistics/monfin/rbssr/rbssrparte/hrb_ssr_part_e.xls
compiled from often incomplete information from lenders, and from media clippings.
Nov 2004", have been sourced from the Standard Statistical Return included all registered banks with large loan portfolios, and Southland Building Society. oans on balance sheet", part E6, for New customer average rate):
Bank website. Access these data directly from the following link.
at August, from 1994 to 1997 for the proportion of fixed and variable interest rate loans. The results were:
s, download the following workbooks: