Weighted average of advertised standard floating first-mortgage rates for new housing customers (B3, INR.MBI06.F). Current: 6.07% for 31 Jul 2026. Monthly survey; specials and fixed terms are excluded.
From 29 Feb 1964 to 31 Jul 2026 (750 months): mean 9.35%, median 8.16%; low 4.37% (31 May 2021), high 20.50% (30 Jun 1987). An official benchmark, not a quote for your loan.
New Zealand's floating first-mortgage rate is a retail lending benchmark, not a policy rate. The figure comes from the Reserve Bank's B3 retail interest-rate survey, series INR.MBI06.F, and is a weighted average of the advertised standard floating rates offered to new housing customers. It is compiled monthly, so the headline is the latest survey month rather than a live quote, and advertised specials, fixed terms and discounts negotiated with individual borrowers are excluded. A central-bank survey average is a reference for the market, not an offer you can accept.
The chart plots the monthly survey history; the table repeats it as numbers in reverse order. The "versus the previous reading" line compares the latest month with the month before, and the mean, median, low and high describe the whole run shown. Range buttons shorten the window without recalculating anything, and Chart and Table are two views of one series. Because this is a survey average, it trails changes in wholesale funding costs and the OCR, and it can move when banks reprice rather than when the official rate changes.
About this desk
The Australia desk leads with the RBA's cash rate target, then New Zealand's OCR and the US federal funds rate, with the rest of the build's series after them. The cash rate is the RBA board's policy target for the overnight money market, published in the F1 daily and F1.1 monthly tables; the page uses the daily target for the headline and the monthly history for the long chart. Because it changes only at board meetings, the series is drawn as steps.
All desks show the same official series, reordered toward one economy; the figures do not change with the desk. Values are republished from official files without alteration. The build publishes no Australian mortgage or deposit rate, because no official series for those is ingested — the desk omits them rather than estimating. This is not financial advice, and readings may lag their source.