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Reader poll

Should you fix your mortgage now or stay floating?

Choices

ASB drops its fixed 1 year mortgage rate

Posted in News May 23, 2009 - 11:13am, David Chaston

ASB, along with its subsidiaries Bank Direct and Sovereign, has lowered its one year fixed mortgage rate.

ASB has dropped it 20 basis points from 5.70% to 5.50%, Bank Direct has dropped slightly less from 5.65% to 5.50%, and Sovereign's rate has been reduced from 5.70% to 5.60%.

These changes are effective immediately.

This brings ASB into line with similar offers for a fixed one-year rate from ANZ, BNZ, the National Bank, and Westpac. It will put pressure on Kiwibank in particular to respond.

This week, ASB released its March GDS result detail, which showed that they have recovered their mortgage market share and growth, after faltering in Q4 of 2008.

Full mortgage rate tables are available here >>>

Bank average mortgage rate charts are available here >>>

 

 

We welcome your help to improve our coverage of this issue. Any examples or experiences to relate? Any links to other news, data or research to shed more light on this? Any insight or views on what might happen next or what should happen next? Any errors to correct?

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by Ruru | 24 May 09, 12:07pm

Bernard, If I compliment you,

Bernard,
If I compliment you, will you let me advertise my business and website here too? "Comments" like those above start to erode the integrity of this site and really piss me off. Suggest we all block the mortga-ge.info site on our computers.

by Bryan Spondre | 24 May 09, 12:41pm

Ruru , its gone. We

Ruru , its gone. We endeavor to catch all the spammers but sometimes they slip though.

Bryan Spondre

by Ruru | 24 May 09, 12:42pm

Thanks. I forgive you, it

Thanks. I forgive you, it is (was) Sunday morning.

by Bryan Spondre | 24 May 09, 12:58pm

Thanks Ruru but spammers never

Thanks Ruru but spammers never sleep :-)

by The Bank Manager | 24 May 09, 1:40pm

Looks like the Govt Super

Looks like the Govt Super Fund thinks property is the way to recover the billions it has lost see:

http://www.stuff.co.nz/business/2436667/Super-Fund-eyes-1b-Queenstown-deal

Surely this warrants further investigation - should the fund really be under writing this $1 billion project? Will it do well out of it?

by janet | 24 May 09, 1:52pm

Maybe they could by the

Maybe they could by the ex-Dave Henderson's 'hole' down there whilst there at it! In for a penny, in for a pound. Hang on! That's our money.....