ANZ, National banks lower mortgage, deposit rates

ANZ and National banks have lowered home lending and term deposit rates in response to lower wholesale rates.
The banks today also noted market forecasts of a drop in the official cash rate, which they said would lead to lower interest rates generally.
The banks are lowering their one-year fixed mortgage rate by 0.5 of a percentage point to 5.95 percent, their 18-month rate by 0.26 of a percentage point to 6.29 percent, their two-year rate by 0.16 of a percentage point to 6.49 percent, and the three-year rate by 0.11 of a percentage point to 6.99 percent.
Among the falls in term deposit rates, the one-year rate is being dropped by 0.5 of a percentage point to 4.6 percent, and the two-year rate is dropping 0.5 of a percentage point to 5 percent.