Flurry of rate changes

So far today we have had three banks; ASB, BNZ and Kiwibank all decrease home loan rates.

Out at the long end BNZ has made 40 basis point cuts taking some rates under the 6% mark. It joins Westpac and ASB at these levels. 

At the other end smaller cuts have been made to six month rates, but these still remain high with the lowest Special rates being close to 7%. Interestingly, one-year rates remain laargely unchanged.

In the two year term ASB has been the most aggressive. See how they all stack up here where we have sorted the two year rate from lowest to highest.