ASB and HSBC are the next to raise fixed home loan rates. A feature is the steepness of their hikes for terms of 4 and 5 years. Both raised TD rates too, with ASB matching Kiwibank with a 4.5% one year offer. BNZ raises rates too

More fixed home loan rate changes are being announced, this time from ASB and HSBC.

And a feature of these changes is the steepening of their rate curves.

ASB has chosen to match ANZ and the others who changed earlier, for terms 1-3 years.

But they have supersized their increases for terms of 4 and 5 years, raising them by +90 bps.

ASB has had attractive four and five year offers, and this latest hike still leaves them below the equivalent ANZ carded offer levels. But ANZ has been a bit of an outlier for these rates with very high offer levels. For the second-largest home lender to push up towards ANZ at that end is a sign of inflation pessimism.

HSBC has also supersized their four and five year rate offers too, although the +70 bps rises in their case still leaves them with a good advantage over the main banks.

HSBC's one-to-three year card maintains a small discount from the main banks who have already moved.

Update: BNZ has now moved up as well. The table below has now been updated.

A feature of the BNZ move is that it has not adopted the steepening profile of ANZ, ASB or HSBC. It's profile is more like the Westpac one.

Further update: TSB has also rates fixed home loan rates. These are now in the table below as well.

At the same time ASB raised term deposit rates too. These changes take their six month rate up +15 bps to 3.75% and up +30 bps for one year to 4.50%, matching Kiwibank.

HSBC raised their six month TD rate to 3.65% and their 12 month rate to 4.30%.

BNZ has not yet announced any matching term deposit rate increases.

Overnight, global rates slipped lower in a changed direction.

One useful way to make sense of the changed home loan rates is to use our full-function mortgage calculator which is also below. (Term deposit rates can be assessed using this calculator).

And if you already have a fixed term mortgage that is not up for renewal at this time, our break fee calculator may help you assess your options. But break fees should be minimal in a rising market.

Here is the updated snapshot of the lowest advertised fixed-term mortgage rates on offer from the key retail banks at the moment.

Fixed, below 80% LVR	6 mths	1 yr	18 mth	2 yrs	3 yrs	4 yrs	5 yrs
as at October 26, 2022	%	%	%	%	%	%	%
ANZ	6.05	5.99	6.09	6.19	6.29	7.19	7.29
	5.95 +0.45	5.99 +0.54	6.09 +0.44	6.19 +0.44	6.29 +0.34	6.99 +0.90	6.99 +0.90
	5.99 +0.50	5.99 +0.54	6.09 +0.50	6.09 +0.40	6.25 +0.36	6.29	6.29
	5.95	5.89		6.15	6.29	6.39	6.39
	5.99	5.99	6.09	6.19	6.19	6.29	6.29
Bank of China		5.25	5.35	5.45	5.65	5.85	5.85
China Construction Bank	5.50	5.65	5.65	5.95	5.95	6.85	6.85
Co-operative Bank [*FHB special]	5.35	5.25*	5.65	5.75	5.95	6.09	6.09
Heartland Bank		5.09		5.45	5.49
HSBC	5.79 +0.50	5.94 +0.55	6.04 +0.50	6.09 +0.50	6.19 +0.40	6.59 +0.70	6.69 +0.70
ICBC	5.35	5.25	5.35	5.45	5.69	5.89	5.99
	5.29	5.29	5.45	5.49	5.75	5.79	5.79
	5.25	5.19	5.99 +0.50	5.99 +0.40	6.09 +0.44	6.19 +0.44	6.19 +0.44