Photo / Getty ImagesHeartland Bank has released the lowest home loan rate in New Zealand history. The bank today announced a one-year fixed loan rate at 1.99 per cent. In addition to this record-low rate, Heartland is also offering a fixed two-year rate of 2.35 per cent and a three-year rate of 2.45 per cent. With the Official Cash Rate currently sitting at a record low of 0.25 per cent, banks have been dropping their home loan rates lower and lower. "My advice is you have just got to hang out and wait for your fixed rate to roll over."

Source: New Zealand Herald October 12, 2020 00:47 UTC