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.

NZ’s best advertised rates by term

TermRateLender
6 Months fixed4.89%ANZ
12 Months fixed4.49%ANZ
18 Months fixed4.59%ANZ
2 Years fixed4.49%TSB
3 Years fixed4.89%ANZ
4 Years fixed5.09%BNZ
Revolving5.95%The Co-operative Bank
Floating5.70%The Co-operative Bank

Rates sourced from MortgageRates.co.nz. Advertised interest rates require a minimum of 20% equity and are subject to change. T&Cs apply.

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Hear JB's 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 JB's own views and are not 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.

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All of New Zealand's latest advertised mortgage rates

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With

Special rates only

Special Rate

Special rates are for loans with a deposit of 20% or more

The Big 5 Lenders
Best rates in this group in bold

Rates sourced from MortgageRates.co.nz.

Advertised interest rates require a minimum of 20% equity and are subject to change. T&Cs apply.

Unlock cash back when you switch banks

Switching banks can save you thousands. Let us do the hard work while you dream up how you’ll spend your dollars. 
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.

Want to save hundreds of thousands on your mortgage?

Find out how small changes you make now can save you a packet in the long run, helping you get rid of your mortgage faster. Our easy-to-digest guide has everything you need to know in one place.

Squirrel guide to refixing and refinancing your mortage

Why choose Squirrel to get you the best rate?

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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.

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More choices

We deal with more lenders than other brokers, giving you more options.

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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.

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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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We have access to more lenders than other brokers – and if you don't quite fit the bank's box we can step in with our own custom solution for you.

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Tell us a little about your financial situation and we'll work out how much you could borrow towards purchasing a home.

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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.

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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.

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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.

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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.

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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.

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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.

Get your mortgage reviewed
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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.

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Latest interest rates & property market updates

30 September 2025


Watch the latest interest rates and property market updates

By Squirrel

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. 

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24 September 2025


When should I refinance my mortgage?

By John Bolton

Refinancing hasn't always been a super popular option among Kiwi borrowers, put off by all the admin involved. But the benefits—like cashbacks and the chance to restructure your mortgage and other debts to get them working better for you—could mean it's well worthwhile. Here's what you need to know.

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22 September 2025


Rodney's Ravings: High unemployment isn’t the constraint on economic growth some would have you think

By Rodney Dickens

It's your classic chicken and egg conundrum, with an economic twist: which came first—rising unemployment or New Zealand's slow economic recovery? While some have blamed a weak labour market for the sluggish state of the economy, Rodney Dickens (and the data) says it's actually the opposite.

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We've worked with Ange and the team at Squirrel more than once now, and every time they've been absolutely fantastic. This time was no different, they looked after us from start to finish with the same professionalism, attention to detail, and just the right amount of hustle behind the scenes to make everything run smoothly. What I appreciate most is how they take the stress out of the process. I just tell them what we're trying to do, and they take care of the rest: crunching the numbers, dealing with the bank, and coming back with a clear plan. It means we can focus on the bigger picture without getting bogged down in the details. Even with a few curveballs from the bank this time, Ange and her team kept everything on track and moving forward. We managed to get both the sale and the purchase done without any delays or issues, which is exactly what you want in these situations. When we think about getting a loan, we think about Ange and the team, and no one else. I genuinely don't want to deal with any other company. They've earned that level of trust.

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Sudam was great to deal with. I had already met with another broker and hadn't been happy with the interaction. Sudam's approach was completely different - he was really nice to talk to, very clear about the options and process, and made the whole thing easy for us. Sudam communicated well throughout and we're very happy with the outcome of switching our mortgage.

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