Kiwibank has cut its one-year special fixed home loan rate by 26 basis points, joining other banks at 4.49%.
Last week, the other major banks slashed some mortgage rates ahead of a widely anticipated cut to the official cash rate on Wednesday.
It joined ASB, ANZ, BNZ, Westpac and The Co-operative Bank, who also had one-year special rates at 4.49%.
Special rates at Kiwibank require minimum 20% equity, and are also available for first home loan customers.
Kiwibank also lowered its six-month (4.85%), two-year (4.69%), three-year (4.99%) special rates.
Standard rates for six-month (5.75%), one-year (5.39%), two-year (5.59%), and three-year (5.79%) were also lowered.
Last week, ASB forecast aggressive action from the Reserve Bank to "jumpstart" the economic recovery, tipping successive rate cuts to bring the official cash rate (OCR) to 2.25% by Christmas.
It expected a 50 basis point cut on Wednesday, followed by a further 25 basis point cut on November 26.
Other experts have floated the idea of a 50 basis point cut, which would take the OCR to 2.5%
Incoming Reserve Bank Governor Dr Anna Breman will step into her new role from December 1, with her first OCR decision at the helm of the central bank to occur on February 18, 2026.
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