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BNZ follows other banks, trims 2-year and 18 month mortgage rates as mortgage approvals tick higher
BNZ has followed in the footsteps of other banks and trimmed its two-year and 18 month mortgage rates.
BNZ has cut its two-year standard home loan rates by 5 basis points to 6.60% from 6.65% and dropped its classic 18 month rate by 10 basis points to 6.55% from 6.65% effective from today.
Banks have been reducing some fixed mortgage rates in recent weeks in efforts to spark the dormant housing market, which is supposed to be in its busiest season, back to life.
The latest moves by ANZ National and ASB to cut their 18 month and two year rates followed moves by Kiwibank, Westpac, TSB, SBS and others.