TMM - News

Banks slash mortgage rates as further OCR cuts signalled

Thursday 15th of August 2024

Kiwibank was first cab off the rank and had clearly just been waiting on RBNZ before pushing the button and cutting its floating rate from 8.5% to 8.25% while ASB also cut its fixed-term rates by between 10 and 34 basis points – the latter was its 18-month rate which dropped to 6.15% from 6.49% previously.

RBNZ cut the OCR from 5.5% to 5.25% after saying in May that a further hike...

Want to read the full article?
Click the button below to subscribe and will have unlimited access to full article and all other articles on the site.