Mortgage rate battle continues as Kiwibank cuts home loans

By Gyles Beckford RNZ The tit-for-tat interest rate battle between retail banks continues with Kiwibank cutting fixed home loan and deposit rates across the board following falls in wholesale rates. The bank has responded to recent cuts by the market’s biggest lender, ANZ , matching it for most durations, but with a market-leading one-year rate of 6.29%.

Kiwibank has shaved between 4 basis points from its six month loan to as much as 20 basis points for its longer-term fixed terms . The six-month rate has become a favourite among borrowers looking to position themselves for further falls..