ANZ and National Bank have made some last minute changes for this week and are continuing to cut long-term rates.
ANZ has dropped its two-year rate by 9 bps, its three-year rate dropped 5 points and its four and five-year rates fell 15 and 5 points respecitvely.
National Bank cut 6 points off its two-year rate, 5 points off its three-year rate and 10 and 9 off its four and five-year rates respectively.
ASB has entered into the home equity release market, which was active but is currently extremely dormant. ASB says it is introducing its product, HomePlus, in response to demand from its senior customers.
There are no rate changes to advise.
