Kiwibank slashes its floating rate mortgage to 3.4% as market shrinks

Thu, 11 Jun 2020

Kiwibank has slashed its variable mortgage interest rate by a percentage point at a time when the market contracted as a result of the coronavirus crisis and government measures to combat it.Kiwibank's new rate is 3.4 percent, making it the lowest in the market and shaves $100 a fortnight off the payments of a customer with a $400,000 mortgage."This isn't a special and it isn't a time-limited thing. We hope this is the new normal," and is open to all borrowers, irrespective of the size of their deposit or equity, chief exe...

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