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.”
TSB holds its market share
Taranaki-based TSB Bank held its share of the mortgage market steady in the March quarter while its profitability improved from a relatively depressed December quarter.
Monday, May 29th 2006, 8:56PM
by Jenny Ruth
The bank's annual report shows its mortgage book grew $33.5 million to $1.53 billion over the quarter. Using Reserve Bank figures as a proxy for the market, that puts its market share at 1.29% little changed from the end of December but down from 1.31% in March last year when its mortgage book stood at $1.35 billion.
Net profit for the quarter grew 10.2% to $7.32 million, bringing the annual increase to 11.9% at $31.3 million. The December quarter increase had been just 6.4%. The bank has increased its profit in each of the past 19 years.
The bank's deposit base grew 10% to $2.36 billion over the year while total assets rose 11% to $2.6 billion.
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