KEY POINTS:
ANZ Bank, National Bank, TSB Bank and Kiwibank have all moved to cut their fixed mortgage rates.
The moves come in the wake of the cuts by ASB and Westpac last week which followed the Reserve Bank's flagging of an Official Cash Rate cut later this year.
ANZ and National cut their mortgage rates right along the curve from 6 months to 5 years by between 10 basis points and 40 basis points. They cut their key 2 year rate by 20 basis points to the new standard of 9.2 per cent, while they cut their 1 year rate by 40 basis points to 9.4 per cent. Their best rates are now at 3, 4, and 5 years at 9.1 per cent.
Kiwibank cut its 3, 4 and 5 year fixed mortgage rates by 20-30 bais points to 9.2 per cent, 9.3 per cent and 9.3 per cent.
Its longer term rates now stands above those offered by ASB, ANZ, National and Westpac, while its 8.99 per cent 2 year special for home buyers borrowing less than 80 per cent of a property's value is below the rest on 9.2 per cent.
TSB cut its 2, 3 and 4 year rates to 9.2 per cent, 9.25 per cent and 9.25 per cent respectively.
- INTEREST.CO.NZ
