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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 home loan rates ahead of the upcoming Official Cash Rate (OCR) review. This has sparked competition, with one-year fixed special rates dropping to as low as 4.79%.
Economists anticipate the Reserve Bank may cut the OCR due to economic pressures. This trend suggests a favourable borrowing environment for homeowners and buyers, with the official OCR announcement due on August 20th.
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