Westpac is cutting some of its longer-term fixed special home loan rates- making it the first major bank to do so.

The bank's two- and three-year fixed home loan rates will drop 10 basis points to 6.99 percent and 6.75 percent, and the four-year and five-year rates will drop to 6.69 percent and 6.49 percent.

 NZ Herald business editor at large Liam Dann explains what this means for the wider market.

LISTEN ABOVE

Westpac is cutting some of its longer-term fixed special home loan rates- making it the first major bank to do so.
The bank's two- and three-year fixed home loan rates will drop 10 basis points to 6.99 percent and 6.75 percent, and the four-year and five-year rates will drop to 6.69 percent and 6.49 percent.
 NZ Herald business editor at large Liam Dann explains what this means for the wider market.
LISTEN ABOVE

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