Major banks Bank of New Zealand and Westpac New Zealand have moved swiftly to cut home loan rates after the Reserve Bank of New Zealand lowered the official cash rate by 50 basis points yesterday to 4.25%. BNZ has passed on the full 0.5% cut for its standard variable home loans, with executive of customer, products and services Karna Luke saying it was a welcome decision for mortgageholders as Christmas approached. Westpac general manager of product, sustainability and marketing Sarah Hearn said the bank's 50bp cut to its floating home loan rates would bring further relief for homeowners. Read the article here: https://lnkd.in/gGQdWAY7 #interestrates #cashrate #homeloans #loanrates #mortgageindustry #mortgageadviser #bankingindustry
Financial Paramedic at iLender
1dNow they need to start processing Adviser applications efficiently.