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Another bank drops home loan rates ahead of OCR review
Banks make moves ahead of the upcoming Official Cash Rate review
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Several major banks, including Kiwibank, BNZ, and ANZ, have lowered their fixed home loan rates ahead of the upcoming Official Cash Rate (OCR) review. This competitive move sees some special one-year fixed rates dropping to as low as 4.79%.
These rate cuts come as economists anticipate the Reserve Bank will lower the OCR to address economic pressures. Homeowners and prospective buyers may see further rate adjustments following the official announcement on August 20.
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