Bank drops fixed mortgage rates again

BNZ has lowered several of its fixed home loan rates, following a recent Reserve Bank Official Cash Rate cut. The changes affect mortgage terms from one year through to five years.

New special rates include:

- 1-year, 18-month, and 2-year terms at 4.75%

- 3-year term at 4.95%

The standard 6-month fixed rate remains unchanged. This move offers potential savings for borrowers looking to fix their mortgage interest rates for medium to long-term periods.