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More, more and still more – there’s no let-up in the fixed rate decreases.

Providing attractive fixed rates for borrowers is the name of the mortgage game this year as thousands of bank customers look around at the alternatives when their loans mature.

The major banks, second-tier and non-bankers lenders continued to trim fixed rates over the past week, many not for the first time in recent weeks.

There’s no indication that the manouevring will come to an end any time soon.

It provides a good chance for borrowers, especially those intending to re-fix this year, to keep tabs on how competitive their chosen lender is and what else is available.

Edging under 8%, National Bank cut its three- and four-year rates to 7.95% and its five-year rate to 7.80%.

ANZ followed and decreased its three- and four-year rates to 7.95% and its five-year rate to 7.90%.

Superbank lowered all its fixed rates, while Westpac dropped its three, four and five year rates.

Amongst the non-bank lenders, Pioneer cut all its fixed rates and Public Trust trimmed a couple of its rates.

PSIS dropped its four- and five-year rates to 7.95%, while Cairns Lockie and General Finance lowered their two- and three-year rates.

Also lowering rates were Resi, Olympic Gold, Loan Society and SMC.

In other news, Plan New Zealand, one of the largest wholesale mortgage broking groups in New Zealand, says that November was its best month ever with loan lodgments hitting $216 million.

In the marketplace, variable rates still start at the 8.50% offered by Napier Building Society and spread to the 9.75% recorded by Headstart.

One-year rates remain between the 7.6% offered by Southern Cross to 9.1% from GEM Home Loans.

Two-year fixed terms continue to be stacked between the 7.75% offered by Southern Cross to 9.25% from Headstart.

Three-year rates vary between the 7.7% offered by Kiwibank and Mortgage Finance to Headstart’s 9.15%.

In the four-year part of the market, Superbank offers the lowest rate of 7.8% and the competitors are in a narrow range up to 8.15% from Pioneer.

For five years, rates differ between the 7.6% offered by BankDirect, NZ Home Loans and Sovereign to Gem Home Loans’ 8.65%.

To compare mortgage rates visit the Good Returns Mortgage Centre.