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HSBC latest bank to raise fixed mortgage rates
The latest round of bank fixed mortgage rate hikes is almost over, with HSBC raising its two to five year rates by between 25 and 40 basis points (bps). This follows on from the busy week for mortgage rates, which saw nearly all banks offering mortgages in New Zealand raise most fixed rates, while Kiwibank and BNZ dropped variable rates as well.
Only small market player Kookmin Bank has yet to make any changes, although it only offers variable, six month, one and two year rates.
The move by Kiwibank and BNZ may well have other banks revising their variable mortgage rates and earlier moves.
To see and compare rates, see our mortgage rates page.
As far as Westpac revising
As far as Westpac revising it's variable mortgage rates down, I'm sure as always it'll release a statement saying that it's already factored a rate drop in last time, so it's really the market leader.