BNZ trims mortgage rates after US Fed decision

The BNZ has further tweaked its home loan rates after the US Federal Reserve cut benchmark interest rates overnight.

The bank has cut its one-year fixed housing rate by 0.16 basis points to 6.29% and its two-year fixed rate by 0.10 points to 5.79%.

The move came after the Fed kicked off what is expected to be a steady easing of monetary policy with a larger-than-usual reduction in borrowing costs that followed growing unease about the health of the US job market…….

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Source: NZHerald

Date: 19 September 2024