First Kiwibank, now ANZ joins the interest rate cutting party

Kiwibank and ANZ have made an immediate cuts to their mortgage interest rates following today’s announcement by the Reserve Bank to cut the Official Cash Rate.

In line with the cut of 0.25%, bringing the OCR down to 2.75, Kiwibank has reduced its floating rate from 6.15% to 5.90%.

The reduction for variable and revolving (floating) rates is immediate for new customers, but will come into effect for existing customers in two weeks' time.

ANZ is also decreasing its home loan rates to match the Reserve Bank's cut, trimming back its floating rate mortgage to 5.99%, and its flexible home loan rate to 6.10%.

The Reserve Bank’s inability to control  Auckland housing prices causes concern for economy.
Source: 1 NEWS


One person hurt as 4WD crashes down bank

One person has been injured after a 4WD vehicle crashed down a bank on Auckland's North Shore this morning.

The vehicle had to be towed up the bank after it came off the road in Torbay. Source: 1 NEWS

Emergency services attended the scene in Torbay at 9.30am where one person suffered minor injuries.


Raw: Car crashes down bank in Auckland suburb

One person suffered minor injuries in the crash in Torbay this morning. Source: 1 NEWS