Kiwibank has announced it will extend its record low 6 month mortgage special rate of 5.4% for an extra week to Monday, May 9.
The special launched on April 14 was due to expire at the end of April. Once the special has expired, Kiwibank's 6 month rate will return to 5.75%, Kiwibank said.
Kiwibank Communications Manager Bruce Thompson said the introduction of short-term rate specials had proved very effective in attracting new business.
“When the six-month special was launched, we promised to hold it until the end of the month. We’ll keep it open for the first week of May because we are still getting a big response from the home loan market," Thompson said.
Kiwibank is keeping its floating mortgage rate on 5.65%.