As of December 2024, the average interest rate for a new standard 1-year residential mortgage in New Zealand was 6.3 percent. In comparison, the average 5-year interest rate for a residential mortgage was 6.15 percent. Average interest rates for new standard residential mortgages in the country started to trend upward from mid-2021. Rates peaked toward the end of 2023 and have begun trending downward.
Average interest rate for new standard residential mortgages in New Zealand from December 2016 to December 2024, by mortgage term
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Average interest rate for new standard residential mortgages in New Zealand from December 2016 to December 2024, by mortgage term
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Reserve Bank of New Zealand. (January 13, 2025). Average interest rate for new standard residential mortgages in New Zealand from December 2016 to December 2024, by mortgage term [Graph]. In Statista. Retrieved February 28, 2025, 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 December 2016 to December 2024, by mortgage term." Chart. January 13, 2025. Statista. Accessed February 28, 2025. https://www.statista.com/statistics/1445577/new-zealand-average-new-standard-mortgage-interest-rate-by-mortgage-term/
Reserve Bank of New Zealand. (2025). Average interest rate for new standard residential mortgages in New Zealand from December 2016 to December 2024, by mortgage term. Statista. Statista Inc.. Accessed: February 28, 2025. 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 December 2016 to December 2024, by Mortgage Term." Statista, Statista Inc., 13 Jan 2025, 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 December 2016 to December 2024, by mortgage term Statista, https://www.statista.com/statistics/1445577/new-zealand-average-new-standard-mortgage-interest-rate-by-mortgage-term/ (last visited February 28, 2025)
Average interest rate for new standard residential mortgages in New Zealand from December 2016 to December 2024, by mortgage term [Graph], Reserve Bank of New Zealand, January 13, 2025. [Online]. Available: https://www.statista.com/statistics/1445577/new-zealand-average-new-standard-mortgage-interest-rate-by-mortgage-term/
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