BNZ leads mortgage rates battle
The mortgage rates battle between the four major banks is being led by Bank of New Zealand, which is promising to beat any two-year fixed rate.
Thursday, October 28th 2004, 8:19AM
by The Landlord
The opening of BNZ's price-cutting spring home loan campaign last week was quickly followed by rate cuts at the ANZ, ASB, TSB, HSBC, Superbank and Kiwibank.The biggest movers were ANZ, which dropped its two-year fixed rate home loan from 7.75 per cent to 7.35 per cent, and ASB, which cut the same fixed rate from 7.4 per cent to 7.2 per cent.
That prompted another move from BNZ, which trimmed its two-year fixed rate home loan from 7.4 per cent to 7.15 per cent late on Friday.
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