Buying a home in New Zealand: mortgage rates and costs
What a mortgage typically costs in New Zealand right now, how the central bank rate compares, and a worked monthly payment example you can adjust in our calculators.
Typical mortgage rate
4.6% – 5.5%
2-year fixed, residential. NZ borrowers typically fix for 1–5 years rather than the full loan term.
As of 2025-11-28. Source
Example monthly payment in New Zealand
| Purchase price | NZ$700,000 |
|---|---|
| Deposit (20%) | NZ$140,000 |
| Loan amount | NZ$560,000 |
| Interest rate | 5.05% · 25-year term |
| Estimated monthly payment | NZ$3,290 |
Illustration only, using the midpoint of the typical rate range. It excludes taxes, insurance and fees. Adjust the figures in the mortgage calculator.