ASB hikes longer term mortgage rates back over 6%

ASB has increased its three, four, and five year mortgage rates by 10, 20 and 30 basis points to 6.05%, 6.15% and 6.25% respectively. They had all previously been cut to 5.95% in the immediate aftermath of the Reserve Bank's last rate cut. This is the first time this year a bank has increased a mortgage rate. For a list of mortgage rates offered by New Zealand institutions, see here.

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