Photo: Kiwibank
Kiwibank is the latest bank to cut home loan rates.
It is cutting its two-year special from 5.45 percent to 5.29 percent and three-year special from 5.69 percent to 5.59 percent.
To qualify for these, borrowers need at least 20 percent equity.
Its standard rates dropped from 6.35 percent to 6.19 percent for two years, and 6.49 percent to 6.39 percent for three.
Two-year special rates have dropped from a peak, on average, of 7.3 percent, according to Reserve Bank data.
On Monday, ASB dropped its one-year rate by five basis points to 5.54 percent. Its 18-month rate dropped to 5.34 percent and its two-year rate to 5.29 percent.
ANZ cut its rates two weeks ago.
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