ANZ-National cuts mortgage rates in line with other banks

ANZ and National Bank have cut their six month, three and four year rates. The new three year rates of 5.99% were brought in line with leading bank competitors after a cut of 36 basis points. For a full list of rates, see here. The banks' six month rates were cut by 20 basis points to 5.79%, in line with Westpac. BNZ still leads that market with a special offer of 4.99%. Four year rates were cut by 10 basis points to 6.40%, equal to Westpac's rate but still above 6.30% offered by ASB and 6.39% offered by BNZ. The new rates will come into effect on March 3. To see mortgage rates offered by financial institutions in New Zealand, click here.