Interest rates nz

A secret “under the line” mortgage rate discounting war has erupted between banks as they struggle to hit home loan sales targets, says independent ...

* [facing higher repayments when they come to refix](http://www.stuff.co.nz/business/130994504/some-household-budgets-will-be-crushed-by-rising-interest-rates-this-year-westpac-says) portions of their home loans as they come to the end of their fixed terms. He said banks were willing to negotiate interest rates with people coming to the end of a fixed term portion of their home loans. Though it had not advertised the fact, BNZ said the 4.99% one-year rate was also available to existing BNZ customers who took out new home loans, and to borrowers who were new to the bank, even if they did not come through brokers. [Home sales having fallen](https://www.stuff.co.nz/life-style/homed/real-estate/127943164/auckland-house-sales-and-prices-fall-as-heat-comes-out-of-market) to levels not seen since the mid-1990s, and Alexander said banks were struggling to hit sales targets. Bank of New Zealand (BNZ) confirmed it had a limited time offer of 4.99% for one-year fixed-term home loans for “new” loans brought to it by mortgage brokers.