In a surprise move today ASB Bank, BankDirect, Sovereign and NZ Home Loans have cut their six-month fixed rates by 15 basis points in a week that has seen other lenders increasing the same rate by anywhere between 10 and 30 points.
The other changes these four lenders have made today comprise a 10 point increase to their one-year rates, 25 point increase to 18-months and their two-year rates rose 20 basis points.
ASB Bank is now in-line with BNZ in having the lowest six-month and one-year rates offered by a major bank at 5.85% and 6.35% respectively.
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