Kiwibank has dropped its one-year rate by 30 basis points from 6.45% to 6.15%, although warns it anticipates only holding the rate for the next two weeks as a special.
Kiwibank communications manager Bruce Thompson says the bank was looking to kick-start the New Year with a very attractive mortgage rate aimed at both new purchasers and those seeking to refinance existing loans.
"It has been some time since there has been any significant changes to interest rates, so Kiwibank is testing the market with a cut-rate one year offer."