Talk about shaving a bit of rates. ANZ has shaved one basis point, yes one off its two year rate to bring it down to 6.69%. This can only be seen as a competitive move to make the number look good. It has also taken five points off its three year rates bringing it to 7.10%.
Credit Union Baywide has cut its two-year rate 5 basis points to 6.86% and its three-year rate by 10 points to 7.25%. These rates are now in-line with the medians for non-bank lenders. Also cutting rates today is NZF with 15 points coming off its two-year fixed rates.
