Kiwibank slashes five-year mortgage rate

Kiwibank has adjusted its five-year home loan rate, slashing it by 80 bps to 4.29% p.a. starting April 1.

“This is no April Fools’ joke,” Kiwibank chief marketing officer Mark Wilkshire said. The price change comes as a response to market conditions, following RBNZ’s change in outlook, he noted.

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“This change enables us to offer lower rates for the longer-term,” Wilkshire added. “We’re all about Kiwis making Kiwis better off and this will certainly enable more Kiwis to fulfil their homeownership goals.”