ASB first to cut
4th Dec 08, 9:26am
by
ASB has cut its floating home loan rate from 8.70% to 7.95% Prior to todays OCR cut by the Reserve Bank, it had cut its floating rate by -0.75%. This means the full -1.50% OCR cut has now been fully passed on by ASB. The ASB rate reductions are effective December 5 for new borrowers, and December 29 for existing borrowers. Other banks are expected to follow with similar rate reductions.
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