KiwiBank has cuts its fixed mortgage rates across the board.
The State-owned bank has reduced its one year rate by 0.2% to 9.9%.
Its two year rate is now 8.85%, which it says is lower than the major retail banks.
On 24 July, the Reserve Bank cut the Official Cash Rate for the first time in five years, to 8%, and signalled further reductions are possible. The OCR was previously 8.25%.