BNZ has lowered one key fixed home loan rate, but raised most others.
The bank this morning cut its two year rate by 10 basis points to 5.35%. It also held its 18-month rate at a competitive 5.29%.
Its six-month rate went up 10 basis poins to 4.89%. It also increased its one-year rate 20 basis points to 5.19%, its three-year rate by 10 basis points to 5.59%, its four-year rate by 20 basis points to 5.65% and its five-year rates 26 basis points to 5.75%.
The rates are for those with 20% equity - those with less than 20% equity in their property will pay a low equity interest rate premium.
On Friday, Westpac cut its two-year rate and lifted others, pointing to a sharp rise in funding costs is flowing through to longer-term lending.
All major banks lifted floating rates in the wake of the Reserve Bank lifting the official cash rate at the start of the month.
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