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.”
NBNZ latest to address broker commissions
National Bank has become the latest major lender to warn mortgage brokers that it wants to cut their commission payments.
Monday, May 21st 2007, 5:19AM
by Maria Scott
Last month sister bank ANZ warned brokers that it wanted to cut commission from 1 June to 45 basis points from an average of about 0.6%. It also proposed an extension to its clawback period, for loans redeemed early, from 12 months to 18 months and to introduce fees for loans submitted and approved but not drawn down.
A large broker group told Good Returns that National Bank had now written to a number of firms giving notice that it wanted to cut commission. No figures were put on the proposal.
National Bank confirmed that it was in discussions but said no decisions had been reached.
A spokesman said: “We've appreciated the constructive feedback we have received and we're now focused on concluding the process with the individual brokers.”
ASB also expects to open discussions with brokers on commissions over the next two months.
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