Photo / SuppliedAs the big four banks raised their home loan rates this week, Kiwibank has seized the marketing opportunity and will drop its two-year rate. Kiwibank announced today its two-year fixed home loan rate will drop six basis points to 2.49 per cent per annum. ANZ lifted its one-year rate by 31 basis points to 2.5 per cent, its two-year rate by 31 basis points to 2.9 per cent and its three-year rate by 25 basis points to 3.24 per cent. BNZ increased its one-year rate by 36 basis points to 2.55 per cent, its two-year rate by 40 basis points to 2.95 per cent and its three-year rate by 26 basis points to 3.25 per cent. Westpac's one-year rate went up by 36 basis points to 2.55 per cent, its two-year rate by 30 basis points to 2.89 per cent and its three-year rate by 30 basis points to 3.29 per cent.

Source: New Zealand Herald July 16, 2021 02:48 UTC