Weighted average of advertised standard floating first-mortgage rates for new housing customers (B3, INR.MBI06.F). Current: 6.07% for Jul 31, 2026. Monthly survey; specials and fixed terms are excluded.
From Feb 29, 1964 to Jul 31, 2026 (750 months): mean 9.35%, median 8.16%; low 4.37% (May 31, 2021), high 20.50% (Jun 30, 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.