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.”
Pero reclaims business
Mike Pero has bought back the 50% of his business he didn't own.
Tuesday, June 17th 2003, 6:16AM
Mortgage broker Mike Pero has reclaimed full ownership of Mike Pero Mortgages by convincing South Canterbury Finance to sell its stake back to him.
South Canterbury Finance bought half the company in 1996 to help it expand into the North Island, particularly into the Auckland market in 1997.
Pero said that he had wanted to regain full ownership for some time.
Mike Pero Mortgages processes $1 billion of loans annually.
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