Meanwhile, its three-year fixed term increases from 5.29% to 5.39%.
A BNZ spokesperson said the bank regularly reviews its home loan rates to ensure they reflect market conditions.
“Fixed home loan rates are influenced by a range of market factors, including wholesale funding costs, swap rates, bond yields and expectations for future rate movements.
“Many of these market factors are more volatile than normal, given recent global events.”
Yesterday, BNZ announced a statutory net profit of $494 million for the half-year ending March 31, down $301m, or 38%, from the same period a year ago.
Operating expenses rose by $352m in the six months to March as it escalates replacing its software.
Last week, ASB lifted some mortgage rates by as much as 20bps.
Its one-year fixed home loan rate rose 6bps to 4.65%, the equal lowest among the big five.
However, smaller bank TSB undercut the major players by lifting its fixed one-year special rate to 4.59% (for those with minimum 20% equity).
ASB also hiked its fixed two-year home lending rate by 16bps to 5.25%.
Its three-year fixed rate went up 10bps to 5.49% and its four-year term increased by 14bps to 5.69%.
