The week finishes on a good note with two of the more active lenders cutting rates. Westpac has dropped its one-year rate by the smallest of margins, four basis points to 6.25%, but increased its six-month rate six points to 5.75%. It also made a four point cut to its Choices Everday revolving credit loan.
Meanwhile Kiwibank made changes at the other end of the yield curve, cutting 29 points from its four-year rate and 19 from its five-year rate putting them at 8.20% and 8.50% respectively.
In the news we update you on how BNZ profits and that it only wrote a small portion of home loan business in the December quarter.
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