BNZ cuts New Zealand home loan rates

rnz.co.nz

BNZ has reduced its fixed and variable home loan rates, anticipating a Reserve Bank interest rate cut. This move aims to offer customers more affordable borrowing options. The bank lowered its one- and two-year fixed home loan rates to 4.95 percent, effective Tuesday. This decision comes before Wednesday's expected 25-basis point cut to the official cash rate, potentially lowering it to 3.25 percent. BNZ also reduced its 18-month fixed rate and standard variable rate. The bank's general manager cited confidence in the OCR cut and a desire to ease pressure on household budgets.


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BNZ cuts New Zealand home loan rates | News Minimalist