Kiwibank first out of the blocks (Updated)

Kiwibank were the first New Zealand bank to cut their mortgage rates following the RBNZ 50 basis point cut in the OCR this morning. (Updated to include rates) Kiwibank's cuts ranged from -0.15% for their four and five year fixed rates, to -0.5% for their floating rates. Their 'best' rate is their three year fixed rate, now at 8.39%. You can check their full updated rate offerings here. Here are the revised rates from Kiwibank

Variable 9.70% p.a. -0.50% Revolving 9.70% p.a. -0.50% 6 month fixed rate 9.35 % p.a. -0.25% 1 year fixed rate 8.80% p.a. -0.25% 2 year fixed rate 8.49% p.a.* -0.36% 3 year fixed rate 8.39% p.a.* -0.26% 4 year fixed rate 8.80% p.a. -0.15% 5 year fixed rate 8.80% p.a. -0.15% *Available for home loans where you have at least 20% equity in the value of the property provided as security. Otherwise an additional 0.20% will be added onto the rate.