Interest.co.nz

Interest.co.nz stands out as New Zealand's premier destination for financial and economic news. We offer unique resources for comparing interest rates, updated multiple times each day, ensuring you have the necessary tools to make well-informed financial choices. Founded in 1999, our platform has evolved into a vital research source for banks and various financial entities. We deliver valuable insights on lending and deposit products tailored for everyday New Zealanders as well as industry professionals. Our comprehensive online resource is backed by extensive databases and a market intelligence service that caters to a diverse range of clients, both individual and corporate.

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Heartland isn’t 'out of the woods yet', according to Forsyth Barr

1 week ago | interest.co.nz | Ella Somers |Gareth Vaughan |David Hargreaves

Despite Heartland Group Holdings announcing arrears improvements in its motor finance portfolio, analysts at investment services firm Forsyth Barr say Heartland Bank is “not out of the woods yet”. In a research report published on Thursday, Andrew Harvey-Green and Benjamin Crozier have retained a neutral rating for Heartland Group Holdings, despite a “solid” third quarter update out of the bank earlier this week.
What happened today

1 week ago | interest.co.nz | David Chaston |Gareth Vaughan |David Hargreaves

Economy / news A review of things you need to know before you sign off on Thursday: the flood of retail rate changes continues, CPI at 2.5%, job ad activity limp, Tourism Holdings hammered, swaps stable, gold rises further, NZD firmish, & more 17th Apr 25, 3:59pm by Here are the key things you need to know before you leave work today (or if you work from home, before you shutdown your laptop). MORTGAGE RATE CHANGES ASB led today's home loan rate cuts, but there were also reductions from the...
Low savings rates are being overwhelmed by taxes and inflation

1 week ago | interest.co.nz | Gareth Vaughan |David Hargreaves |David Chaston

Personal Finance / analysis As term deposit offer rates sink, real after-tax, after-inflation yields are vanishing. Taxpayer guarantees reducing the risk premiums aren't helping.
Breakfast briefing: Powell warns of 'challenging scenario'

1 week ago | interest.co.nz | David Chaston |Gareth Vaughan |David Hargreaves

Here's our summary of key economic events overnight that affect New Zealand, with news gold has taken off, hitting yet another new all-time record high as fear stalks markets today and risk is definitely 'off'. But the NZD is rising. As we publish, markets are moving quickly so this snapshot will date just as quickly. But first in the US, mortgage applications fell -8.0% last week from the same week a year ago, with the refinance component down a rather sharp -12% on the same basis.
Seek says job volumes were flat in March but rose on a quarterly basis

1 week ago | interest.co.nz | Ella Somers |Gareth Vaughan |David Hargreaves

Employment marketplace SEEK says job ad volumes remained flat in March but ad volumes have risen for the first time quarter-on-quarter in over two years. In its latest NZ employment report released on Thursday, SEEK says that the quarterly rise of 2%, the first quarter-on-quarter increase since August 2022, indicated a stabilisation of the job ad market.
What happened today

1 week ago | interest.co.nz | David Chaston |Gareth Vaughan |David Hargreaves

Here are the key things you need to know before you leave work today (or if you work from home, before you shutdown your laptop). MORTGAGE RATE CHANGESLate yesterday, Kiwibank basically matched the ANZ cuts. BNZ did so too today, but dipped their 18 month rate lower to 4.95%, the lowest rate for any term from any bank. Details here. The Cooperative Bank cut all its fixed rates too. As did Westpac. All rates are here. TERM DEPOSIT/SAVINGS RATE CHANGESKiwibank has cut all its term deposit rates.
RBNZ to review staff levels after 25% funding cut

1 week ago | interest.co.nz | Dan Brunskill |Gareth Vaughan |David Hargreaves

The Reserve Bank of New Zealand (RBNZ) will slash its annual spending by 25% under a new funding agreement just signed with Finance Minister Nicola Willis. The five-year deal, announced Wednesday, allocates $750 million for operating costs and $25.6 million for capital expenditure. While this is only a 3.5% from the $778 million funding arrangement for 2020-2025, it will require the bank to make significant cuts to its current annual budget.
The housing market is heading into uncharted waters this winter

1 week ago | interest.co.nz | Greg Ninness |Gareth Vaughan |David Hargreaves

The housing market is not its usual self at the moment and several indicators suggest it is a bit under the weather as it comes down from its summer highs. The first area of concern is prices. Take a look at the graph below which tracks the REINZ's median selling price from month to month. It shows that after the precipitous increase in prices that occurred between May 2020 and November 2021, and the sharp correction which followed until August 2022, prices have gone, well, more or less nowhere.
BNZ sets a market-leading low mortgage rate

1 week ago | interest.co.nz | Gareth Vaughan |David Hargreaves |David Chaston

Personal Finance / analysis Home loan rates are being inched lower in response to competitive pressures and uncertain loan demand.
NZD rises to another 2025 high, up on all key crosses

1 week ago | interest.co.nz | Jason Wong |Gareth Vaughan |David Hargreaves

Currencies / analysis China stops ordering new Boeing aircraft and halt purchases of aircraft and parts from US companies. No progress on EU-US trade negotiations.