ANZ Group Holdings (ASX:ANZ, NZE:ANZ) has reduced its home loan affordability test rate to 7.10% from 7.25%, according to a Wednesday interest.co.nz report.
The test rate is used to assess a borrower's ability to repay the loan if interest rates rise.
ANZ said a lower test rate will enable borrowers to qualify for higher loan amounts, according to the report.
The bank also noted that banks are facing competition in attracting a limited number of "creditworthy" borrowers.
ANZ did not immediately respond to MT Newswires' request for comment.
The company's shares rose 1% on market close.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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