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
Characteristic
Floating rate
6 month rate
1 year rate
2 year rate
3 year rate
4 year rate
5 year rate
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Reserve Bank of New Zealand. (June 10, 2024). Average interest rate for new standard residential mortgages in New Zealand from May 2016 to May 2024, by mortgage term [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1445577/new-zealand-average-new-standard-mortgage-interest-rate-by-mortgage-term/
Reserve Bank of New Zealand. "Average interest rate for new standard residential mortgages in New Zealand from May 2016 to May 2024, by mortgage term." Chart. June 10, 2024. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1445577/new-zealand-average-new-standard-mortgage-interest-rate-by-mortgage-term/
Reserve Bank of New Zealand. (2024). Average interest rate for new standard residential mortgages in New Zealand from May 2016 to May 2024, by mortgage term. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1445577/new-zealand-average-new-standard-mortgage-interest-rate-by-mortgage-term/
Reserve Bank of New Zealand. "Average Interest Rate for New Standard Residential Mortgages in New Zealand from May 2016 to May 2024, by Mortgage Term." Statista, Statista Inc., 10 Jun 2024, https://www.statista.com/statistics/1445577/new-zealand-average-new-standard-mortgage-interest-rate-by-mortgage-term/
Reserve Bank of New Zealand, Average interest rate for new standard residential mortgages in New Zealand from May 2016 to May 2024, by mortgage term Statista, https://www.statista.com/statistics/1445577/new-zealand-average-new-standard-mortgage-interest-rate-by-mortgage-term/ (last visited July 22, 2024)
Average interest rate for new standard residential mortgages in New Zealand from May 2016 to May 2024, by mortgage term [Graph], Reserve Bank of New Zealand, June 10, 2024. [Online]. Available: https://www.statista.com/statistics/1445577/new-zealand-average-new-standard-mortgage-interest-rate-by-mortgage-term/
