About Us  |   Advertise  |   Contact Us  |   Terms & Conditions  |   RSS Feeds Other Sites:   landlords.co.nz
Join our newsletter

Mortgage Rates Newsletter

Daily Weekly

sharemarket

Kiwibank cuts home loan rates

Kiwibank has cut 0.31% off its two-year fixed home loan rate, reducing it from 7.30% to 6.99%.

Thursday, July 1st 2010, 10:58AM

Kiwibank chief executive Sam Knowles said the rate cut was to give some certainty to customers who are concerned about interest rate volatility.

"This is another option for home loan customers looking to lock in very competitive rates and to spread their lending risk.

"Just last week we introduced a 12-month cap option on our variable (floating) rate and are now giving some longer term security for customers."

The cap option allows customers on a floating rate to ensure the rate does not increase above 6.50% p.a. for 12 months. The cap option costs $250. Kiwibank's present variable rate is 5.90% p.a..

The Kiwibank two-year rate is at least 20 basis points below the other big banks. (Check and compare rates here www.mortgagerates.co.nz)

 

 

 

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to MortgageRates.co.nz go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

  
Latest News

Kiwibank cuts. Just BNZ to go

Bollard's departure sparks monetary policy debate

Bollard casts off from bank

ASB cuts 1 to 5 year fixed home loan rates

Bollard holds OCR steady as US Fed prompts currency jump

What Bollard said

 
Compare Mortgage Rates
Compare
from
to
for
To graph multiple lenders, hold down Ctrl key while clicking in list box
Include OCR

How to use this

Find a Mortgage Broker
  Add your company
Latest Trends
Future interest rate hikes softened

The Reserve Bank has kept the OCR at 2.50% as expected, but had lowered its forecast track for the 90 day bill rate by around 60 basis points (0.6%) to a peak of 4.30% by the end of next year.

For borrowers that means floating home loans are not forecast to rise as much as previously forecast. In June the expectation was that the rates would rise 2% in the next 12 months: that figure has now been wound back to 1.4%.

MORE »
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

Disclaimer: Every possible effort has been made to keep the information in the rates tables as accurate as possible, however, neither the publishers of Mortgage Rates nor anyone engaged to compile these tables accept any liability for inaccuracies or any loss suffered as a result. It is strongly advised that readers check loan details directly with the provider concerned.

© Copyright 2012 Tarawera Publishing Limited. All Rights Reserved.