Competition is heating up again in the mortgage market.
Kiwbank is launching a limited time two-year fixed mortgage rate of 3.99 percent. Customers will need a twenty percent deposit.
The rate is lower than the 4.19 percent rate being offered by at least three banks.
However HSBC is offering an even lower rate of 3.95 percent, for 18-months for some "premier" customers.
It is always important to ask for a better deal from your bank and to also see what is on offer from other banks.
That is because if you look at the floating rates right now there is a 0.4 percent difference between the lowest and highest advertised rate. They range from around 5.45 to 5.85 percent.
The difference is almost one percent between the lowest and highest two-year fixed rates.
Not every rate is going down. Canstar says two banks this week lifted their one year fixed home loans rates by 10 basis points to 4.25 percent.
The average one year rate is 4.5 percent.