ASB hikes fixed mortgage rates

(Image: Getty)

Tue, 05 Sep 2023

ASB is hiking mortgage rates again, targeting terms proving popular among borrowers.The bank is lifting its one-year and 18-month rates by 20 basis points to 7.45% and 7.15% respectively.Meanwhile, it’s raising its two- and three-year rates by 16 points to 7.05% and 6.85%, respectively.The hikes come as new Reserve Bank of New Zealand (RBNZ) data shows that one-year fixed remained the most popular type of mortgage in July.Meanwhile, 18-month and two-year mortgages rose in popularity at the expense of three-year and floating mortgages.Rela...

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