Another major bank has increased some fixed home loan rates from today.
BNZ announced this morning it would increase rates for standard terms from 18-months to five years.
The rates would be effective from today, for new and existing customers.
The six-month and one-year rates remained unchanged, while the the standard 18-month term would increase 0.05% to 4.69%.
The two-year standard rate was also changed 0.20% to 4.89%, while the three- and- four year terms would both go up 0.30% to 5.29% and 5.49%, respectively.
The five-year term would receive the largest increase of 0.40%, from 5.29% to 5.69%.
Those with less than 20% equity in their property will pay a low equity interest rate premium.
The bank did not cite any reason for the changes, but it followed similar moves yesterday from Westpac amid a "significant" jump in wholesale rates.
Westpac managing director of product, sustainability and marketing Sarah Hearn said the changes were absorbing some of those increased costs, "and also passing on higher rates to our savings customers".
Westpac also lifted term deposit rates on terms of 12 months and longer by between 10 and 30 basis points.
Wholesale interest rates have risen in recent weeks amid global uncertainty linked to the conflict in the Middle East.
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