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.”
HSBC continues to lose market share
The Hongkong and Shanghai Banking Corp.'s New Zealand branch continued to lose market share in the mortgage market and its profits were down in the December quarter.
Thursday, April 6th 2006, 8:17AM
The bank's net profit for the quarter fell 11.6% to $3.78 million, although its annual result of $24.39 million was 4.4% ahead of 2004.
Its mortgage book shrank from $2.14 billion at the end of September to $2.12 billion at the end of December compared with $2.2 billion in December 2004. Its share of mortgages held by registered banks eased to 1.86% from 1.94% in September and from 2.24% in December 2004.
HSBC has been losing market share since it bought AMP's mortgage book in the June 2003 quarter.
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