Mortgage rates keep falling - ANZ National and ASB join the party

ANZ National Bank and ASB are cutting their floating mortgage rates to 8.7 per cent from 9.45 per cent.

The move comes after Westpac this week announced a cut in its variable rate to 8.7 per cent and Kiwibank went a step further with a cut in its variable home loan rate to 7.95 per cent.

The change at ANZ is effective on Monday for new customers and on December 10 for existing customers.

The National Bank cut is effective for new customers on Monday and for existing customers on December 8.

ASB's cut is effective immediately for new borrowers and from December 8 for existing borrowers.

To read the full NZ Herald article click here

Posted: 22 Nov 2008

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