Economists are unanimously expecting the official cash rate to be cut next week.
The Reserve Bank will announce its decision on Thursday.
It comes amid an increase in competition in the mortgage market.
BNZ announced a new one-year rate today of 4.35%, which is the lowest advertised rate on record.
Kiwibank said it had plans to respond with “marketing initiatives” next week.
All of the economists surveyed by MORE»
Friday, September 4th, 10:00AM
UPDATED A record low interest rate in the home loan market is likely to drive inquiries to brokers, it has been claimed.MORE»
Thursday, September 3rd, 10:46AM
Vulnerable first-home buyers were the target of a woman who has been found guilty of mortgage fraud worth millions in the Auckland District Court.MORE»
Kiwibank says its focus for the future is transforming into a digital business, with fewer branches and digitally-enabled sales supported by staff.MORE»
ANZ appoints a new boss for its broker business.MORE»
Former Mike Pero mortgage adviser James Heath has failed to overturn his restraint of trade agreement and set up a new business.MORE»
New Zealand’s official cash rate will be reviewed less often in coming years.MORE»
Growing investor demand for Auckland property has exacerbated the price pressures arising from the underlying supply shortage, the Reserve Bank says.MORE»