Kiwibank extends mortgage rate special

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Kiwibank has announced it will extend its record low 6 month mortgage special rate of 5.4 per cent for an extra week to Monday, May 9.

The special launched on April 14 was due to expire at the end of April.

Once the special has expired, Kiwibank's 6 month rate will return to 5.75 per cent, Kiwibank said.

Kiwibank Communications Manager Bruce Thompson said the introduction of short-term rate specials had proved very effective in attracting new business.

"When the six-month special was launched, we promised to hold it until the end of the month. We'll keep it open for the first week of May because we are still getting a big response from the home loan market," Thompson said.

Kiwibank is keeping its floating mortgage rate on 5.65 per cent.

- INTEREST.CO.NZ