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Old Mortgage News

Westpac cuts rates

Monday 11th of February 2013

The one-year rate has been dropped from 5.25% to 4.89%, the three-year rate from 5.9% to 5.35% and the five-year rate from 5.99% to 5.75%.

The rates are the cheapest carded rates of all the major banks but Westpac said they were being reviewed weekly.

For three-year terms, ANZ has 5.90 per cent, ASB is advertising 5.75 per cent and Kiwibank has 5.65 per cent.

The median five-year rate among the major banks is 6.5%.

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