BNZ is the last of the major banks to lift some of its short-term mortgage rates.
It comes ahead of tomorrow's official cash rate update from the Reserve Bank.
BNZ has lifted its one-year special rate from 6.99% to 7.09%, its two-year rate from 6.59% to 6.75% and its three-year rate from 6.29% to 6.49%.
Standard rates have gone up a similar amount, with a one-year rate now 7.69% and two-year 7.35%.
ANZ, Westpac, ASB and Kiwibank have already lifted some rates.
After a dozen increases in the OCR, some are tipping the central bank may hold steady at 5.5%.
Speaking to Breakfast yesterday, BusinessDesk investments editor Frances Cook said the Reserve Bank could be “done” with “ruthless hikes”.
Cook said while there was a chance the Reserve Bank could “shock us”, “pretty much everyone is expecting things to hold steady”.
She said there could be hope on the horizon for home owners.
“The idea is most people are expecting the next six months, maybe a year, things will hold steady and then they might start to drop again.
“If you can hang in there for the next six months to a year, that’s probably going to be the toughest time, and then there’s light at the end of the tunnel."
1News.co.nz will have the Reserve Bank's decision and reaction online from 2pm tomorrow.
SHARE ME