Buying guide
New Zealand interest rates
Current home loan rates on offer in New Zealand
AI summary
Tracking New Zealand home loan rates is vital for buyers and those refinancing. The current lowest fixed rate is 3.99% (SBS Bank, 1-year FirstHome Combo), with the average 1-year rate at 4.71%.
Forecasters believe we are near the bottom of the interest rate cycle. Short-term rates may fall slightly more in early 2026, while longer-term rates (2-5 years) have likely bottomed out and could start rising soon, making this a critical time for financial planning.
Keeping track of interest rates is one of the easiest ways to stay ahead when you’re buying a home, refinancing, or planning your next financial move. Rates can shift quickly, so having up-to-date information in one place makes life a whole lot simpler.
Check the latest rates in our live interest rate table (updated regularly).
Rates snapshot
Lowest fixed rate: 3.99% (SBS Bank – FirstHome Combo, 1-year only)
Average 1-year rate: 4.71%
Average floating rate: 6.01%
Interest rate outlook
Most forecasters agree we’re likely near the bottom of the interest rate cycle, with many one-year rates sitting in the mid-low 4s.
Six-month and one-year rates could fall slightly further in early 2026 after the November OCR cut, before flattening out or lifting gradually through 2026 and 2027. Longer-term rates (2–5 years) are thought to have already bottomed and may start rising soon.
As always, these predictions depend on how global and local economic conditions evolve.
Read more about interest rate predictions.
Interest rate guides:
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