Rates change all the time. Keep up to date with the latest activity so you can manage your mortgage and pay-it-off faster.
Can mortgage rates drop any further?
Since the country has settled into Alert Level Two, we're now starting to see retail banks lowering their interest rates. But are home loan borrowers getting the benefit of cheap wholesale rates?
Big banks join the rate war, dropping below 3%
As expected, the big banks are starting to drop their rates further to reach below 3%, and today ASB announced its two-year fixed rate of 2.99% while Kiwibank introduced a one-year fixed rate of 2.99%.
The 1-year fixed rate reaches a new low
China Construction Bank has positioned themselves as the bank with the lowest 1-year fixed rate, with a cut down to 2.80%. They're now ahead of HSBC (2.95%) and Heartland Bank (2.89%). Will the big five be able to match it?
Breaking: Loan-to-value (LVR) rules are removed by the RBNZ
The Reserve Bank of New Zealand (RBNZ) announced yesterday that the loan-to-value ratio (LVR) restrictions that they put in place back in 2013 will be removed from 1 May for 12 months. So what does this mean?