Bah humbug to pre-Christmas mortgage rate reductions

Bah humbug – mortgage holders shouldn't expect any early Christmas cheer. (Image: Disney)

Fri, 08 Dec 2023

ASB bank tweaked its six-month and one-year mortgage rates by six basis points to 7.39% on Thursday, though economists say it’s unlikely to herald any sort of rate adjustments before Christmas.ASB's general manager of personal banking, Adam Boyd, said the bank was “committed to supporting current and prospective ASB customers, including first-home buyers”. However, economists consider it a token move, given New Zealand's major banks' average 74bps increase in the "best" one-year rate since late May&r...

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