Four major banks have announced cuts to


Four major banks have announced cuts to home loan rates.
The RBNZ slashed the cash rate by 50 basis points to 1 per cent today – a new record low for New Zealand’s cash rate.
ASB was the first bank to move on cutting its home loan and saving rates but it has since been joined by Westpac, BNZ and Kiwibank.
ASB’s variable home loan interest rate will fall from 5.7 per cent to 5.2 per cent and its revolving credit Orbit home loan will drop from 5.75 to 5.3 per cent.
Source: NZ Herald.
http://ow.ly/AKUW50vqliV

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