ANZ and National Bank made some last minute changes at the end of last 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. These latest rate changes have come in after the release of its June quarter general disclosure statements, which show a slide in its share of the mortgage market.
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.
One economist has pushed out the date for the Reserve Bank’s next official cash rate hike, click here to see who it is and why they have made this prediction.
