Average new residential mortgage interest rate New Zealand 2016-2024, by term

Published by Statista Research Department, Jun 10, 2024

As of May 2024, the average interest rate for a new standard 1-year residential mortgage in New Zealand was 7.6 percent. In comparison, the average 5-year interest rate for a residential mortgage was at 6.98 percent. Average interest rates for new standard residential mortgages have been on the rise in the country over the past few years.

Average interest rate for new standard residential mortgages in New Zealand from May 2016 to May 2024, by mortgage term

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Release date

June 2024

Region

New Zealand

Survey time period

May 2016 to May 2024

Supplementary notes

The reported rates are a simple average of new standard rates offered to new borrowers advertised by registered banks in New Zealand.

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