BNZ says it is increasing its shorter fixed-term mortgage rates, and cutting the longer term rates that it has on offer.
Effective from today, June 24, the bank has raised its standard 6-month rate from 4.49% to 4.69%.
The 1-year and 18-month rates went up 0.14% each, to 4.79% and 5.09%, respectively.
The 2-year fixed term rate increased from 5.19% to 5.29% per annum.
The longer-term rates including 3-year, 4-year and 5-year terms all saw decreases from between 0.10% and 0.30%.
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The three-year rate is now 5.29%, four-year is 5.39% and the five-year rate is now 5.49%.
Those with less than 20% equity in their property will pay a low equity interest rate premium.
Earlier this week, the country's largest bank ANZ announced it would cut some of its fixed home loan interest rates in response to a fall in wholesale interest rates.
"Global events continue to influence wholesale rates, which have come off a little as the US enters peace talks with Iran," said ANZ managing director for personal banking Grant Knuckey.
Last week, Westpac NZ also cut some of its home loan interest rates.
The Reserve Bank held the Official Cash Rate at 2.25% in its most recent review on May 28 but signalled interest rate hikes were "very likely" ahead. The next OCR review will be announced by the Reserve Bank on July 8.
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