ASB has increased two of its advertised fixed-term mortgage interest rates, lifting its six-month rate by 34 basis points and its 18-month rate by 15 basis points.
The bank's new six-month rate is 5.59%, up from 5.25%, and its 18-month rate is 5.55%, up from 5.40%. ASB's advertised floating rate remains 5.75%.
Meanwhile, sister banks ANZ and National have cut their six and 18-month rates and hiked their one and two-year rates.
On Monday morning ANZ and National cut their six-month rates by 15 basis points to 5.50% and their 18-month rates by 16 basis points to 5.39%. They hiked their one-year rates by 25 basis points to 5.50% and their two-year rates by 11 basis points to 5.60%.
And Westpac has increased two fixed mortgage rates, with their one year fixed rate going to 5.49% from 5.25%, and their three year fixed rate going to 5.90% from 5.75%
The increase to ASB's six-month rate came just a day after rival Kiwibank introduced a fresh mortgage special offer of 4.99% for six-months. Borrowers must have at least 30% equity in their property to qualify for the Kiwibank loan.
Sister banks SBS and HBS are also running a six-month 4.99% special offer, although their offer is only available to residential borrowers who have their full banking with SBS or HBS and a maximum debt servicing ratio of 35%.
Kiwibank's standard six-month rate is 5.25%. Other banks' six-month rates range from 5.45% to 5.75%.
Over 18-months, ANZ and National now have the lowest advertised rate, with ASB's new rate brings it in line with the 5.55% also advertised by BNZ. Westpac and TSB Bank offer 5.65%.
The ASB rate increases come after it cut its advertised five-year, fixed-term rate by 51 basis points to 5.99% on Monday.
Most other banks are advertising five-year rates of between 6.50% and 6.70%.
However, SBS and HBS are promoting a five-year special rate of 5.99%. Their offer is conditional on customers having all their banking with either SBS or HBS and loan-to-valuation ratios within 80%.
See all bank advertised mortgage rates here.
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