Kiwibank is the first bank to change its floating mortgage rate this year, cutting it by 14 basis points to 5.65% which is the second lowest floating rate behind BNZ's TotalMoney product offered at 5.59%.

There are no mortgage rate changes to advise of today, however in mortgagerates.co.nz news we talk to Kiwibank about why it changed its floating rate yesterday to the second lowest at 5.65%.

In Expert views we find that most economists are now pricing an Official Cash Rate hike in June after last week’s unemployment figures which were unexpectedly high and in the spotlight today is John Key’s first major speech of the year at the opening of Parliament, where he will outline his economic plans for the year and changes to the tax system.