BNZ has responded to Tuesday’s fixed home loan rate cuts from ANZ, trimming its own rates across several terms ahead of next week’s expected Official Cash Rate (OCR) drop.

James Leydon, BNZ’s General Manager Home Lending, says the move means borrowers can access more competitive rates immediately.

“We know household budgets remain tight for many New Zealanders, and today’s changes will help reduce monthly mortgage payments for those refinancing,” he says.

The cuts apply to both new customers and existing customers who are in their rollover period or currently on variable rates.

New fixed home loan rates:

• 6 months: 5.09% p.a. (down 0.20%)
• 12 months: 4.79% p.a. (down 0.10%)
• 18 months: 4.79% p.a. (down 0.10%)
• 2 years: 4.89% p.a. (down 0.06%)
• 3 years: 4.99% p.a. (down 0.10%)

For Hibiscus Coast homeowners, the change could make a noticeable difference in mortgage repayments, especially for those locking in shorter terms while waiting to see where rates head next.

The adjustment also signals banks are preparing for a more favourable lending environment, which could help free up household spending power locally.

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