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.
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||%||%||%||%||%||%||%|
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%.