Rate Watch: Next round of cuts starting

The next round of home loan rates have started this week, with most banks making, or predicted to make, significant changes.

As predicted by Good Returns we have our first sub 5% with BNZ offering today, a 6 month fixed rate of 4.99% for its Classic Combo Out of the Box offer.

The bank says the rate is part of a summer combo campaign running from February 21 to 6 March.

Like many of these specials there conditions, but the conditions are not just around equity levels, rather they include that new customers must take an additional two or more Out of the Box products to receive the rate.