ANZ slashes its one-year fixed mortgage rate to 5.25%
ANZ retail division's managing director Kerri Thompson says domestic and international conditions mean wholesale interest rate markets have been volatile.
"We're not sure how long this window will remain open. We hope to keep it open for a while but we'll be reviewing it on a daily basis," Thompson says.
It's ANZ's lowest one-year rate since at least 1995, she says.
While ANZ's rate is now the lowest "carded" one-year fixed rate, it doesn't beat Kiwibank's current one-year fixed special at 4.99% for those with at least 30% equity - Kiwibank's "carded" one-year rate is still 5.65%.
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