{"id":57461,"date":"2025-10-03T02:46:09","date_gmt":"2025-10-03T02:46:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/57461\/"},"modified":"2025-10-03T02:46:09","modified_gmt":"2025-10-03T02:46:09","slug":"asb-westpac-cut-fixed-mortgage-rate-to-4-49-latest-banks-to-drop-after-anz-bnz-ahead-of-ocr","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/57461\/","title":{"rendered":"ASB, Westpac cut fixed mortgage rate to 4.49%, latest banks to drop after ANZ, BNZ ahead of OCR"},"content":{"rendered":"<p class=\"brdZfQpMhqMp\" style=\"display:none\">The move sees the bank\u2019s fixed one-year rate drop by 26 basis points (bps). Westpac\u2019s fixed six-month rate has also been cut to 4.99% and its two-year fixed rate has dropped to 4.65%. <\/p>\n<p class=\"brdZfQpMhqMp\" style=\"display:none\">ASB also cut its one-year fixed rate by 26bps. Its six-month fixed rate is now 4.95% and its two-year fixed rate is 4.65%. <\/p>\n<p class=\"brdZfQpMhqMp\" style=\"display:none\">Adam Boyd, an executive general manager at ASB, said it would be welcome news \u201cto the thousands of households looking to refix their mortgages or begin their journey towards home ownership this year\u201d.<\/p>\n<p class=\"brdZfQpMhqMp\" style=\"display:none\">\u201cOur 18-month and 1-year terms have moved to sub-4.50%, which will be welcome news to those looking for certainty in an economic landscape that continues to evolve.\u201d<\/p>\n<p class=\"brdZfQpMhqMp\" style=\"display:none\">ANZ announced a new one-year fixed rate of 4.49%, also a drop of 26bps, on Wednesday. BNZ dropped its rate to the same point on Tuesday. <\/p>\n<p class=\"brdZfQpMhqMp\" style=\"display:none\">ANZ also cut its six-month fixed rate to 4.89% and its two-year fixed rate to 4.65%. BNZ\u2019s advertised rates are 4.99% for its fixed six-month term, 4.49% for its fixed one-year term and 4.75% for its two-year term.<\/p>\n<p class=\"brdZfQpMhqMp\" style=\"display:none\">The Reserve Bank (RBNZ) will make its next Official Cash Rate (OCR) decision on October 8.<\/p>\n<p class=\"brdZfQpMhqMp\" style=\"display:none\">The OCR sits at 3%, having fallen from 5.25% in August last year.<\/p>\n<p class=\"brdZfQpMhqMp\" style=\"display:none\">The RBNZ shifted its outlook at its last meeting to recognise that economic recovery had stalled. Two more rate cuts are now expected by March next year.<\/p>\n<p class=\"brdZfQpMhqMp\" style=\"display:none\">Raphael Franks is an Auckland-based reporter who covers business, breaking news and local stories from T\u0101maki Makaurau. He joined the Herald as a Te Rito cadet in 2022.<\/p>\n<p class=\"brdZfQpMhqMp\" style=\"display:none\"><a href=\"https:\/\/www.nzherald.co.nz\/nz\/the-daily-h-your-fast-smart-guide-to-the-days-biggest-headlines\/VQR5CULLQRECZP2ORSWPGDORBU\/?utm_source=nzherald&amp;utm_medium=article&amp;utm_id=nz_cta\" target=\"_blank\" rel=\"noreferrer nofollow noopener\" title=\"https:\/\/www.nzherald.co.nz\/nz\/the-daily-h-your-fast-smart-guide-to-the-days-biggest-headlines\/VQR5CULLQRECZP2ORSWPGDORBU\/?utm_source=nzherald&amp;utm_medium=article&amp;utm_id=nz_cta\">Sign up to The Daily H<\/a>, a free newsletter curated by our editors and delivered straight to your inbox every weekday.<\/p>\n","protected":false},"excerpt":{"rendered":"The move sees the bank\u2019s fixed one-year rate drop by 26 basis points (bps). Westpac\u2019s fixed six-month rate&hellip;\n","protected":false},"author":2,"featured_media":57462,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[43968,74,3017,9344,12465,25286,1396,28500,138,6932,3588,38402,5346,8498,305,47955,700,130,16400,111,139,1536,69,10667,1118,5908,19257,165,61,4518,17239],"class_list":["post-57461","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-43968","tag-after","tag-ahead","tag-announcement","tag-anz","tag-asb","tag-banks","tag-bnz","tag-business","tag-cash","tag-cut","tag-drop","tag-expected","tag-fixed","tag-have","tag-homeloan","tag-latest","tag-more","tag-mortgage","tag-new-zealand","tag-newzealand","tag-next","tag-nz","tag-ocr","tag-of","tag-official","tag-rate","tag-their","tag-to","tag-weeks","tag-westpac"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/57461","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=57461"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/57461\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/57462"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=57461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=57461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=57461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}