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.”
Kiwibank grows home loan market share
Kiwibank says its home loan book was affected by the slowing housing market but it still managed to increase market share in the December quarter and net profit for the three months was up 35% from the same quarter a year earlier.
Tuesday, March 25th 2008, 6:36AM
by Jenny Ruth
Kiwibank's mortgage book grew $240 million to $4.23 billion in the three months, taking its market share from 2.97% at the end of September to 3.05% at the end of December, using Reserve Bank figures on loans by registered banks secured by housing as a proxy for the market.
That compares with 2.28% in December 2006. Part of the increase reflects about $600 million in AMP-branded mortgages acquired from HSBC Bank.
Net profit for the three months rose to $11.2 million from $8.3 million in the year earlier quarter, taking the bank's six month profit to $22.7 million, up 31.4%.
Kiwibank says its retail deposits grew $392 million in the latest six months and its Online Call accounts by $189 million, reflecting uncertainty in the financial sector.
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