Following Westpac and HSBC yesterday, ASB is the latest major bank to raise most fixed mortgage rates.
The increases are effective today (July 12, 2013) at 5pm.
Other brands in the ASB stable have made the same changes which means rates for BankDirect and Sovereign changed too.
The increases announced by ASB today set its carded rates as among the highest for big banks for terms of 1 year and longer.
However, it has reduced its 6 month fixed rate to 5.10% to 5.19%.
All other changes are increases.
Its one year rate rises to 5.25%, an increase of 6 bps from 5.19%.
Its 18 month rate rises to 5.50% an incraese of 5 bps from 5.45%.
It has raised its two year fixed rate to 5.65%, up 20 bps from 5.45%.
Its three year fixed rate is now 6.05%, up 10 bps from 5.95%.
For four years, their fixed rate is now 6.30%, up by 15 bps.
And for five years their new rate is 6.60%, higher by 15 bps.
ASB's 30 bps discount for Christchurch red zone new build deals applies to all the above rates.
See all advertised mortgage rates here.
| 1 yr | 2 yrs | 3 yrs | 4 yrs | 5 yrs | |
 |
4.95% | 5.50% | 5.95% | 6.15% | 6.45% |
 |
5.25% | 5.65% | 6.05% | 6.30% | 6.60% |
| BNZ | 5.25% | 5.40% | 5.90% | 6.15% | 6.35% |
| Kiwibank | 4.89% | 5.45% | 5.90% | 6.15% | 6.45% |
 |
5.19% | 5.65% | 6.04% | 6.30% | 6.60% |
| Co-op Bank | 4.94% | 5.45% | 5.90% | 6.10% | |
| HSBC Premier | 4.99% | 5.50% | 5.90% | 6.15% | 6.40% |
| SBS / HBS | 4.95% | 5.25% | 5.65% | 5.85% | |
 |
4.88% | 5.45% | 5.80% | 6.10% | 6.30% |
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Mortgage choices involve making a significant financial decision so it often pays to get professional advice. A Roost mortgage broker can be contacted by following this link »
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