Reserve Bank believes rates will fall; BNZ cuts; Simplicity 2.5% rate
Thursday, May 28th 2020, 9:18AM
Reserve Bank governor Adrian Orr believes banks have "room to go" to push home loan rates below current record lows: [READ ON]
BNZ has made further home loan rate cuts, effective this morning. Its 18 month loan drops to 2.79% for investors and owner-occupiers, while its two-year falls to 2.69%, joint-cheapest in the market.
Even KiwiSaver provider Simplicity is getting in on the rate cut action. It has cut its floating rate home loan to just 2.5%.
| « The Co-operative goes sub 3%; Mortgage lending drops to record low | Tough servicing tests remain; Westpac and TSB slash rates » |
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