Kiwibank hikes key 2 year mortgage rate back over 6%; lifts 5 year rate to 7.6%

Kiwibank hiked its 2,3,4 and 5 year mortgage rates on Wednesday morning, bringing them into line with rate hikes announced by the other bigger banks over the last week. Kiwibank lifted its key 2 year rate to 6.19% from 5.99% and lifted its 5 year rate to 7.60% from 7.25%. See all the bank mortgage rates in our rates table here. Meanwhile BNZ announced it had cut its 6 month mortgage rate to 5.5% from 5.79%, while it increased its 2,3,4 and 5 year mortgage rates. This means BNZ's fixed mortgage rate curve is clearly positively and with a full 200 basis points now between its 6 month rate at 5.5% and its 5 year rate at 7.5%. See our updated Brother in law's guide to mortgages here.