ANZ and National's longer term rates are also in line with Kiwibank, ASB and BNZ, while being below Westpac's.
However, ANZ and National's one year rate is below ASB on 5.7 per cent and BNZ on 5.75 per cent, but is above Westpac's 5.59 per cent rate.
Most floating mortgage rates are around 5.65-5.75 per cent, putting them in line with the lowest fixed rates ranging from six months to two years of around 5.65 per cent to 5.8 per cent.
More borrowers are now floating rather than fixing, given economist expectations the Reserve Bank will hold the Official Cash Rate, which is the basis for all New Zealand interest rates, unchanged at a record low of 2.5 per cent until late this year, with some economists pointing to the prospect of rates being on hold well into 2013.
Some think there is even a possibility of a cut in the OCR if the European crisis worsens substantially and hits global growth and inflation outlooks.
Rates on hold at low levels for longer, with the possibility of further rate cuts, are seen making floating rates at least as attractive as fixed rates. More than 60 per cent of New Zealand borrowers are now floating with more than 80 per cent either floating or set to come of a fixed rate within a year.
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