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.”
Mortgage borrowing strong
Friday, July 5th 2002, 12:18AM
by Jenny Ruth
Mortgage borrowing remained strong in May with an additional $600 million borrowed, bringing the total owed on housing to $70.62 billion, the latest Reserve Bank figures show.
May’s mortgage borrowing total was 8.2% higher than the $65.28 billion owed on housing in May last year.
The figures show the year-on-year percentage increases have been steadily accelerating from the 5.6% increase in April last year from April 2000.
The latest increase represents a further acceleration from the 7.9% increase in April compared with April last year.
Total household indebtedness in May was $77.74 billion, up from $77.18 billion in April and $71.88 billion in May last year.
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