ASB has changed mortgage rates for two fixed terms, one up, the other down.
The headline change is to their 18 month fixed 'special' which has been cut by -16 bps to 4.39%.
That makes it the lowest rate for that term from any bank (except HSBC Premier), and by quite a margin. It beats TSB's 4.65% - the next lowest rate - by 26 bps. It beats BNZ's 5.05% - the next lowest main bank rate - by 66 bps.
In fact, 4.39% is the lowest rate for any term from any bank, other than from HSBC Premier.
However, at the same time ASB has raised its two year rate to 4.65% matching all its main rivals for this term. For ASB, that is a +6 bps rise.
These rate changes also apply at Sovereign.
We should also note that yesterday, swap rates stook a tumble following the unexpectedly weak CPI data for December. In fact, the one year swap rate fell to 1.97%, its lowest level on record.
See all banks' carded, or advertised, home loan interest rates here.
Here is the full snapshot of the fixed-term rates on offer from the key retail banks.
| below 80% LVR | 6 mths | 1 yr | 18 mth | 2 yrs | 3 yrs | 4 yrs | 5 yrs |
| as at January 22, 2018 | % | % | % | % | % | % | % |
 |
4.99 | 4.45 | 5.15 | 4.65 | 4.99 | 5.89 | 6.09 |
 |
4.95 | 4.49 | 4.39
|
4.65
|
4.89 | 5.39 | 5.59 |
 |
5.35 | 4.59 | 5.05 | 4.65 | 4.99 | 5.89 | 6.09 |
 |
4.99 | 4.45 | 4.65 | 4.99 | 5.65 | 5.69 | |
 |
5.25 | 4.59 | 5.15 | 4.65 | 4.94 | 5.89 | 5.59 |
 |
4.80 | 4.49 | 4.69 | 4.69 | 4.99 | 5.39 | 5.59 |
 |
4.85 | 4.19 | 4.19 | 4.29 | 4.89 | 5.29 | 5.59 |
 |
4.99 | 4.44 | 4.69 | 4.69 | 4.99 | 5.49 | 5.69 |
 |
4.85 | 4.44 | 4.65 | 4.64 | 4.79 | 5.55 | 5.69 |
In addition to the above table, BNZ has a fixed seven year rate which is 6.15%.
And TSB still has a ten year fixed rate of 6.20%.
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