Wellington, Aug 27 NZPA - ANZ and National Bank of New Zealand have cut their fixed mortgage lending rates.

ANZ cut its two-year rate to 6.7 percent from 6.79 percent, the three-year rate to 7.15 percent from 7.2 percent, the four-year rate to 7.45 percent from 7.6 percent and the five year rate to 7.7 percent from 7.75 percent.

The National Bank cut its two-year rate to 6.69 percent from 6.75 percent, the three-year rate to 7.1 percent from 7.15 percent, the four-year rate to 7.45 percent from 7.55 percent and the five-year rate to 7.7 percent from 7.79 percent.