Key Points:

Kiwibank has increased its 5 year fixed mortgage rate from 8.95 per cent to 9.3 per cent, joining BNZ in dropping its ultra-competitive long term mortgage rate.

It now means there are no mortgage rates on offer publicly by banks of below 9 per cent. BNZ dropped its five year special rate of 8.88 per cent on Friday.

- INTEREST.CO.NZ