Major NZ bank hikes interest rates ahead of OCR decision | WATCH

After a period of historically low mortgage rates, banks are starting to shift them upwards, anticipating the Reserve Bank will start to raise the OCR, which has been sitting at .25 per cent for nearly 18 months.

ANZ has released its new rates which come into effect today.

A one-year fixed mortgage goes from 3.15 per cent to 3.29 per cent.