Another bank lifts mortgage rates as one-year special climbs above 5%

Kiwibank has increased several of its fixed mortgage rates, pushing its one-year special rate from 4.95% to 5.15%. This adjustment follows a broader trend of rising interest rates within the banking sector.

Alongside the mortgage rate hikes, the bank has also increased its interest rates for longer-term deposits. These changes reflect ongoing shifts in the financial landscape affecting both borrowers and savers.