Kiwibank cuts two-year mortgage rate, hikes others

Fri, 16 Jul 2021

Kiwibank is swimming against the tide by cutting its two-year fixed mortgage rate while the four major banks have raised theirs.But Kiwibank is raising its floating, one-year, three-year, four-year and five-year rates.The government-owned bank has cut its two-year rate to 2.49% from 2.55% with effect from Monday and chief executive Steve Jurkovich said in a statement his bank is "providing certainty to its customers" in a rising rate environment.What the press release didn't say is that Kiwibank is also lifting its one-year mortga...

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