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.”
Mike Pero increases profit forecast
Mike Pero Mortgages increased profit forecast provides little help for its share price.
Wednesday, July 14th 2004, 6:47AM
Newly listed mortgage broking firm Mike Pero Mortgages has upgraded its profit forecast.
The company says, in a notice to the NZX, that it has traded well over the four months ended June 30 and preliminary results indicate the net surplus for the period will exceed the forecast of $338,028 contained in the prospectus for the Initial Public Offering by approximately 20%.
The result for the four months to 30 June will be released to the NZX in mid August.
The sharemarket initially treated the news warmly pushing up the share price. However, yesterday it slipped 4c to 90c, reversing half of the gains booked when it upped its quarterly profit forecast.
MPM shares listed at $1 each. You can check out the share price HERE
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