BNZ cuts mortgage rates again

Summarised by Centrist

BNZ has further reduced its mortgage rates, just one week after the previous cuts. Effective immediately, the new rates include 6.85% for a six-month loan, 6.45% for a one-year loan, 5.99% for an 18-month loan, and 5.89% for a two-year loan. These reductions follow the recent drop in the official cash rate from 5.5% to 5.25%, prompting several banks to lower their mortgage rates.

Read more over at Stuff