New Zealand mortgage market averages
RBNZ market-average standard and special residential mortgage rates, by term. These are statistical averages, not lender offers.
An average is not an offer. The rate available to a borrower can differ with equity, income, property and lender criteria.
How home loan rates are priced
These are market averages, not offers. The Reserve Bank averages the standard and special rates lenders charge on new residential mortgages, and that average moves with wholesale funding costs and the Official Cash Rate.
Read the curve, not one headline. A floating rate is repriced as official rates move; a fixed term holds the rate you take for the term you choose. Compare the whole row before deciding how long to fix.
The current Official Cash Rate is 2.75%, as at 08 October 2026, from the Reserve Bank of New Zealand's statistical series.
2 market averages across 8 terms, published by the Reserve Bank.
8 termsare published here, from floating to five years, so the whole curve is comparable rather than one headline.
6.43%is the standard floating average. Floating is repriced as official rates move, unlike a fixed term.
0.59 ppseparates the standard and special two-year averages in this table.
Not offersEvery figure is a market average, not a rate a lender is obliged to give you.
Term — each one is its own page
2 rate types · showing FloatingInterest rate, % per year
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Source: New residential mortgage standard interest rates (B20) (nz-rbnz-b20) · Effective 2026-09-30 · Checked
Source: New residential mortgage special interest rates (B21) (nz-rbnz-b21) · Effective 2026-09-30 · Checked