Bank drops fixed mortgage rates again

BNZ has announced a reduction across several of its fixed home loan rates, following the Reserve Bank's recent cut to the Official Cash Rate.

The changes affect fixed terms from one to five years, while the standard six-month rate remains the same. New special rates include:

- 1-year, 18-month, and 2-year terms at 4.75%

- 3-year term at 4.95%

These lower rates may offer significant savings for homeowners and buyers considering fixing their mortgage in the near future.