Westpac NZ is lowering its fixed housing rates across a range of terms from one year to five years.
The decreases on fixed home loan rates of between 10 and 20 basis points mean the bank has some of the lowest home loan rates in market.
Westpac NZ has also announced decreases to a range of term deposit rates.
Westpac NZ General Manager of Product, Sustainability and Marketing Sarah Hearn says the bank continues to focus on providing value to customers while responding to changes in wholesale rates.
"We know this will be welcome news for customers looking to re-fix their mortgage soon," Ms Hearn says.
"While we are reducing our rates, we acknowledge that customers may be re-fixing their loans from the historically low rates we have seen over recent years and may still be concerned about their increasing costs.
"We're proactively calling home loan customers who may be facing into financial difficulty to ensure they're well supported and understand their options.
