National Bank has now cut its one-year, 18-months and two-year rates by 10 basis points following quite a dramatic rise it made to them just over a week ago.
The rates for the terms mentioned above are now 6.35%, 6.79% and 7.20% respectively.
ANZ also dropped its rates late Friday. Its one-year rate was reduced by 10 points to 6.35%, its 18-month rate fell 16 bps to 6.69% and its two-year rate went down by 5 points to 7.30%.
We have seen quite a lot of raising of home loan interest rates over the past week or so by many of our banks with the exception of TSB Bank and HSBC, who have kept their rates considerably low.
Also in news ASB's mortgage broking man retires after 45 years.
