ASB has lowered some fixed home lending rates for the second time in a fortnight, reducing rates on 1-year, 18-month and 2-year terms from today.
The bank dropped its 1-year and 18-month fixed home loan lending term by 5 basis points, to 5.54% and 5.34% respectively.
The 2-year term was cut by 20 basis points to 5.29%, down from the previous rate of 5.49%.
Three of its term deposit rates were also reduced by between 5 and 10 basis points.
ASB’s David Jackson said “we’ve reduced our fixed mortgage rates 11 times since July last year, and we’re committed to doing everything we can to support our homeowners and Kiwi looking to buy”.
Rate adjustments were effective immediately for new and existing customers.
Last week, both BNZ and KiwiBank made cuts to home loan and term deposit interest rates.
BNZ dropped its 1-year fixed rate from 5.59% to 5.55% (a 0.04% change) and KiwiBank reduced its 1-year special fixed rate by 24 basis point to the same level.
All major banks have lowered some fixed mortgage rates in recent weeks.
