New Zealand Home Loans has announced that it is offering lower mortgage rates for a two week special period beginning Monday, June 13
These are the first home loan reductions by any significant lender since early April.
Their 12 month fixed rate will fall to 5.85% from 5.95%, and their two year fixed rate will fall to 6.30% from 6.40%.
This special offer reduction will only be open until the close of business on Friday, June 26, 2011.
In addition, a ten point (0.10%) discount will apply to any floating rate components of all new Prime clients for the first 24 months of their loan. A similar discount will be available for their "specialist loans".
NZ Home Loans usually prices its home loan products based on Sovereign pricing. However, they are majority owned by Kiwibank, and write a significant proportion of their business on Kiwibank products, in addition to their long-standing Sovereign product offering.
You can find current rates for all mortgage offerings here.
A useful mortgage calculator, which allows you to compare various option side-by-side, is here.