Mortgage Rates Daily Commentary
Thursday 6 August 2026
Taranaki residents plan to try and stop TSB sale - but there's a hitch; ASB hikes rates
Taranaki residents unhappy with the plan to sell TSB Bank to Heartland are hoping to file an injunction to stop it next week - but there's a catch. [READ ON]
ASB is the latest bank to increase fixed rates.
It has increased its fixed home loan rates by between 10-26 bps on its 6-month to three-year terms and has increased term deposit rates by 10-20 bps on its 6-month to two-year terms.
ASB’s Executive General Manager Personal Banking Adam Boyd says “We’re continuing to see volatility in wholesale interest rates, which have climbed over the past month. This has a direct bearing on the rates we offer on lending and deposits, in line with what is happening in markets around the world.”
BNZ drops fixed rates
Monday, January 8th 2001, 9:30PM
The Bank of New Zealand has announced an across-the-board drop for all its fixed rate housing loans. (To see all the latest rates
Click here)
The fall includes a 0.5% reduction to its one-year fixed rate.
The bank said the reductions were due to a fall in wholesale interest rates. The new rates will take effect from Tuesday January 9.
The BNZ's announcement comes after the US Federal Reserve last week cut rates by half a percentage point in response to concerns about a severe slowdown in the US economy.
New Zealand's Reserve Bankis due to review its benchmark rates in about two weeks time.
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