ASB has today announced adjustments to its mortgage rates, following the bank’s reductions across fixed and floating mortgage rates last week. ASB’s latest changes include a 36-basis point reduction to its 6-month term, down to a market-leading rate of 6.39%.
ASB’s Executive General Manager Personal Banking Adam Boyd says “We know there’s strong appetite for shorter-term mortgages at the moment. Our drops to 6-month, one year and 18-month terms in response to movement in wholesale rates should appeal to our customers refixing, as well as those looking to buy a property.”
ASB has also reduced some of its shorter-term term deposit rates by between 10 and 35 basis points, and increased its 4-and-5 year term deposits by 10 basis points each.
All rate adjustments are effective immediately for new and current customers.
|
Fixed home lending term |
Previous rate |
New rate |
Rate decrease |
||||
|
6-month |
6.75% |
6.39% |
-0.36% |
||||
|
1-year |
6.19% |
5.99% |
-0.20% |
||||
|
18-month |
5.89% |
5.79% |
-0.10% |
||||
|
4-year |
5.69% |
5.79% |
+0.10% |
||||
|
5-year |
5.69% |
5.79% |
+0.10% |
