It is TSB's turn to reduce mortgage rates and they have trimmed -4, -5 or -6 bps from a number of key terms.
Their key reduction is a -4 bps reduction from their 18 month rate.
That takes it to 4.35% which, apart from the standout HSBC rate, is the lowest level of any other bank for this term.
In addition, their one year fixed carded offer is reduced by -5 bps to 4.24%. Kiwibank is lower on both rates.
Their fixed two year rate has had -6 bps trimmed off it to 4.49%. And their three year fixed rated has had -4 bps removed to put it at 4.85%.
Apart from the 18 month rate, TSB is aligned in the middle of the pack.
Here is the full snapshot of the fixed-term rates on offer from the key retail banks.
|below 80% LVR||6 mths||1 yr||18 mth||2 yrs||3 yrs||4 yrs||5 yrs|
|as at July 9, 2018||%||%||%||%||%||%||%|
In addition to the above table, BNZ has a fixed seven year rate which is 6.15%.
And TSB still has a 10-year fixed rate of 6.20%.