ASB Bank and Kiwibank are the latest banks to cut long-term fixed interest rates.
ASB and BankDirect made a 45 basis point cut to its three-year fixed rate and both its four and five-year rates were cut by 65 points.
Kiwibank reduced its three-year rate from 7.70% p.a. to 7.25% p.a.; four-year reduced from 8.20% p.a. to 7.55% p.a. and its five-year from 8.50% p.a. to 7.75% p.a.
SBS Bank has cut its two-year fixed home loan rate today by 31 points to 6.99%.
CBS Canterbury's rate changes today consist of an increase of 10 basis points to its one-year rate and cuts of up to 36 points to its two, three and five-year rates.
Southern Cross Building Society upped its six-month and one-year rates by 20 points each and Credit Union Baywide have cut its two and three-year rates by 35 and 45 points respecitvely this week.
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