BNZ has cut its fixed mortgage rate offer for an 18 mth term to 5.25% which is now the lowest rate for that term in the market.
This 5.25% rate has been launched for its Classic product, reintroducing it after a short absence.
Prior to this change, BNZ's 18 mth offer was for its GlobalPlus product at 5.70%.
The Classic home loan is BNZ's basic mortgage product. As such it does not provide for their 'Rewards' program, it is not linked to their 'Offset' programs, and you cannot get it with their revolving credit option.
This new low BNZ rate has trumped the ASB 5.45% rate for the same term.
All mortgage rates are up-to-date here ยป in our comprehensive list.
Earlier, we reviewed who has the lowest mortgage rate offers in this story.
Wholesale swap rates have recently been trending down, but not to the extent that the competitive mortgage responses have indicated.
No chart with that title exists.
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.