This week’s mortgage briefing
QV’s July House Price Index shows residential values fell 1.5% nationally over three months. Meanwhile, Reserve Bank data released 12 August puts the two-year government bond closing yield at 3.58% on 11 August, broadly steady day-on-day. The yield is a market indicator, not a mortgage offer.
What it means this week
Wholesale market yields provide context for broader interest-rate conditions but are not customer mortgage offers. Confirm current live lender pricing and compare total cost, features and flexibility.
Values and market momentum remain uneven by region. Buyers may have more negotiating room in some areas, but should still keep finance conditions and independent due diligence in any offer.
The new Reserve Bank figures are simple averages of rates advertised at the end of July. A special rate may require particular equity or other conditions, and may not be available to every borrower.
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QV’s July index puts the average New Zealand home value at $898,799, down 1.5% over the three months to the end of July, 1.3% since the start of 2026 and 1.2% year-on-year. Regional outcomes remain uneven.
Reserve Bank wholesale data released 12 August shows the secondary-market two-year government bond closing yield was 3.58% on 11 August, up from 3.57% on 10 August and below 3.61% at the end of July. It is a market indicator, not a borrower mortgage offer.
Reserve Bank data shows the average advertised special rate at the end of July was 4.74% for one year and 5.15% for two years, up from 4.67% and 5.08% in June. Special rates have eligibility conditions and may not be available to every borrower.
The Reserve Bank’s July month-end averages put the standard one-year advertised rate at 5.34%, up from 5.28% in June. The standard floating average rose from 6.15% to 6.32%; these figures exclude special discounts.
Interest.co.nz reports ASB increased its fixed home-loan carded rates on 6 August, citing higher wholesale funding costs. The report says ASB was the last of the large Australian-owned banks to move in this round; borrowers should confirm live pricing directly with lenders.
Realestate.co.nz had 33,252 residential properties available at the end of July, 9.3% more than a year earlier and the highest July level since 2014. New July listings were nearly unchanged year-on-year.
Reserve Bank data shows $8.321b of new lending fully secured by residential mortgages in June, up from $8.181b in May. Fixed lending represented 81.9% of the total.
Across reporting banks, the simple average of weighted new-lending rates was 4.62% for one year and 5.00% for two years, up from 4.58% and 4.92% in May. These are aggregated actual-lending measures, not advertised offers.
Stats NZ recorded 40,581 new homes consented in the year ended June, up 19% from the previous year. June’s seasonally adjusted monthly total fell 3.6%.
Reserve Bank data for June shows $159.63b of fixed owner-occupier lending in repricing buckets of up to one year. The figures describe loan balances, not borrower outcomes.
Cotality’s Home Value Index records a national median value of $804,303, down 0.3% for July, 1.0% over three months and 0.7% year-on-year.
Reserve Bank data records $8.45b of new residential mortgage commitments in June, including $1.60b to first-home buyers.
June lending data shows $2.30b of commitments involved changing loan provider, up from $2.18b in May.
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