Three of the country's top banks have cut mortgage rates again ahead of the Reserve Bank's meeting next week.

Wholesale interest rates have fallen in recent weeks in anticipation of the central bank loosening monetary policy.

BNZ has dropped almost all of its short term fixed housing rates.

Longer term rates between 3 and 5 years saw the biggest drop of 40 basis points to 5.99 per cent.

Short term rates from six months to two years have fallen by between 6 and 16 basis points, while longer term deposit rates are well below 6 percent.

Meanwhile, ASB has lowered its fixed home rates with longer term rates all below 6 per cent and the popular two year rate by 24 basis points to 6.25 per cent.

Its term deposits between 9 months and 5 years have dropped by up to 30 basis points.

Kiwibank has followed suit, cutting its special fixed term rates between 6 and 30 basis points with its two year rate now at 6.34 per cent.

Most of Kiwibank's term deposit rates have dropped 10 basis points but its 1 year rate is down 15 to 5.65 percent and its 2 year rate is down 20 to 5.25 per cent.

The RBNZ will meet on Wednesday, August 14, and publish the monetary policy statement in the afternoon.

The official cash rate has sat tight at 5.5 percent since May 2023 but banks are predicting cuts this year, potentially in October and November.

-RNZ.