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...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Stay informed on business, government and financial developments across New Zealand.
Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Politics

NZGIF chair resigns as ministers look for change

Tarrant said she was “respecting the ministers' desire for new leadership.

Ian Llewellyn 5:30pm

Policy

ACC under review as levies rise

The review aims to speed up rehabilitation times.

Jem Traylen 3:45pm

Finance

FMA to oversee ‘regulatory sandbox’ for fintechs

The initiative aims to speed up financial services innovation and regulation in NZ.

Ben Moore 2:40pm

FMA to oversee ‘regulatory sandbox’ for fintechs

Sponsored

Why Kiwis are embracing Bitcoin ETFs

The once hard-to-access investment option is becoming mainstream.

Smart

Sponsored

Boost worker health, boost results

Research shows flexible workspaces improve health and productivity

Regus

More Property

Property

Beachlands South development appeals settled

Appeals challenging the approval of a plan change for the Beachlands South development have been settled, paving the way for the multi-billion dollar project to proceed.“The success of negotiating a sensible outcome means that the development process can now move forward with the...

Staff reporters 11 Dec 2024