ASB cuts 18 month mortgage rate

ASB has made a move to appeal to those homebuyers looking for around for a 1 or 2 year fixed rate mortgage, cutting its "fighting" 18 month rate to 9.55 per cent from 9.75 per cent.

The other 4 big banks have 1 and 2 year rates at 9.95 per cent and 9.70 per cent respectively, although Kiwibank has 1 and 2 year rates at 9.85 per cent and 9.6 per cent. ASB has left its 1 and 2 year rates at 9.75 per cent and 9.7 per cent.

However ASB has raised its 4 and 5 year fixed rates by 10 basis points to 9.6 per cent and 9.5 per cent respectively.

- INTEREST.CO.NZ