BNZ leads mortgage rates battle

The opening of BNZ's price-cutting spring home loan campaign last week was quickly followed by rate cuts at the ANZ, ASB, TSB, HSBC, Superbank and Kiwibank.

The biggest movers were ANZ, which dropped its two-year fixed rate home loan from 7.75 per cent to 7.35 per cent, and ASB, which cut the same fixed rate from 7.4 per cent to 7.2 per cent.

That prompted another move from BNZ, which trimmed its two-year fixed rate home loan from 7.4 per cent to 7.15 per cent late on Friday.

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