Tony Alexander: Banks offering low rates for fixed term mortgages

Two major banks have joined the fray to offer a super low rate on the one-year fixed-term mortgage front.BNZ has released a rate update dropping its one-year rate to 2.29 per cent, matching that of ANZ and Westpac, while ASB has also dropped its rate to match it.Westpac was the first bank to offer the 2.29 per cent rate on January 11 and ANZ followed suit earlier this week.TSB is also continuing to match the rate of the Australian-owned majors.Economist Tony Alexander joins The OneRoof Radio Show on The Weekend Collective to share his thoughts on the issue.LISTEN ABOVESee omnystudio.com/listener for privacy information.