Bah humbug to pre-Christmas mortgage rate reductions

Bah humbug to pre-Christmas mortgage rate reductions
Bah humbug – mortgage holders shouldn't expect any early Christmas cheer. (Image: Disney)
Brent Melville
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...

More Property

Local window design software firm's accounts tagged
Property

Local window design software firm's accounts tagged

Known locally as Soft Tech, the Takapuna-based firm is part of the global Cyncly group.

Maria Slade 07 Aug 2025
Capital gains tax to solve house-price affordability crisis?
Finance

Capital gains tax to solve house-price affordability crisis?

ANZ's Richard Yetsenga said house-price affordability is a significant challenge. 

Staff reporters 07 Aug 2025
Gibbons Co files to subdivide old Tip Top factory site
Property

Gibbons Co files to subdivide old Tip Top factory site

Property developer Gibbons Co has applied to subdivide the former site of Wellington's Tip Top factory.On Wednesday, the Wellington City Council told BusinessDesk it was processing an application for a three-lot subdivision on the 5000sq m property at 194 Adelaide Rd in Newto...

Gregor Thompson 06 Aug 2025
Auckland daycares in receivership as creditors close in
Economy

Auckland daycares in receivership as creditors close in

Peacocks Early Learning Centre remains operational. 

Gregor Thompson 06 Aug 2025