{"id":63398,"date":"2025-10-07T10:23:08","date_gmt":"2025-10-07T10:23:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/63398\/"},"modified":"2025-10-07T10:23:08","modified_gmt":"2025-10-07T10:23:08","slug":"major-bank-trims-some-mortgage-rates-ahead-of-ocr-decision","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/63398\/","title":{"rendered":"Major bank trims some mortgage rates ahead of OCR decision"},"content":{"rendered":"

BNZ has lowered some of its fixed mortgage rates ahead of tomorrow’s expected cut to the OCR.<\/a><\/p>\n

Standard 6-month rate, two-year and three-year rates all dropped by 10 basis points, to 4.89%, 4.65% and 4.85% respectively. <\/p>\n

Its 18-month rate fell 26 basis points to 4.49%. <\/p>\n

The one-year rate, which was earlier cut to 4.49%<\/a> in line with other banks, did not change. <\/p>\n

Nor did the four-year (5.09%) or five-year standard (5.39%) rates. <\/p>\n

The new rates were effective from today. Those with less than 20% equity in their property will pay a low equity interest rate premium.<\/p>\n

The bank also lowered its term deposit rates this week. <\/p>\n

The morning’s headlines in 90 seconds, including a man\u2019s arrested over an attack on Winston Peters\u2019 house, why hundreds of people might need to resit their driving test, and will the \u2018Mushroom Murder\u2019 case see duelling appeals? (Source: Breakfast)<\/p>\n

Yesterday, Kiwibank<\/a> joined other major banks in lowering some mortgage rates ahead of the widely anticipated cut to the official cash rate on Wednesday. <\/p>\n

It joined ASB, ANZ, BNZ, Westpac and The Co-operative Bank, who also had one-year special rates at 4.49%.<\/p>\n

Infometrics chief forecaster Gareth Kiernan was among those expecting a 50 basis point cut when the Reserve Bank’s monetary policy committee met tomorrow. <\/p>\n

He said a drop of 50 basis points at tomorrow’s OCR review would likely signal another 25 basis point cut on November 26. <\/p>\n

“It would be weird for them to do 50 and then stop … so that would add to the downward pressure, too,” he told RNZ<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"BNZ has lowered some of its fixed mortgage rates ahead of tomorrow’s expected cut to the OCR. Standard…\n","protected":false},"author":2,"featured_media":63399,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[138,219,42,43,40,38,41,39],"class_list":{"0":"post-63398","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-headlines","8":"tag-business","9":"tag-economy","10":"tag-headlines","11":"tag-news","12":"tag-top-news","13":"tag-top-stories","14":"tag-topnews","15":"tag-topstories"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/63398","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=63398"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/63398\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/63399"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=63398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=63398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=63398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}