HSBC reduced its three, four and five-year rates by 20, 24 and 34 basis points respectively. It now has the lowest fixed rates on offer, albeit with the condition that customers must have a mortgage worth $500,000 or savings of $100,000 to qualify.
To see the other mortgage rate changes made by lenders this week click here.
In Expert Views BNZ economist Tony Alexander explains the seven considerations that should be made in deciding whether to fix or float and economists look at uncertainty around the recovery.
New Zealand consumer prices rise less than expected in the second quarter providing little evidence that the central bank needs to aggressively hike interest rates and two non-bank lenders pull out of the home loan market because of a lack of funding.
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