ASB has today matched Kiwibank's recent move lower in their three year 'special' rate.
At the same time it has removed its 18 month and 4 year 'specials'.
That leaves ASB with its fighting rate pricing set at 5.39% for both its two and three year 'special' offers.
And ASB is matching its main rivals across the board at the lowest rate level, except its one year rate.
But it is letting the four smaller banks undercut it in all terms to the level of about 10 to 30 bps depending on the term.
ASB, along with BNZ, Kiwibank, Westpac and TSB Bank no longer offer cash incentives (although BNZ does still offer FlyBuys).
Today's changes also apply to BankDirect and Sovereign.
These are of course carded rate movements we are reporting here.
We continue to hear anecdotal stories of all banks matching or beating rate offers that are below carded rates. Achieving lower rates only comes through firm negotiation and will depend a lot on the details of the business you are bringing to the table.
The home loan market continues to be very competitive.
Also be aware, just because a bank is not formally offering a cash incentive does not mean it will shy away from matching a rival's offer. You can only know that in the 'heat' of an actual negotiation.
See all banks' carded, or advertised, home loan rates here.
The current non-rate incentive offers are here.
This is how mortgage rates from the banks will compare at 8am Friday, April 24, 2015:
| below 80% LVR | 1 yr | 18 mths | 2 yrs | 3 yrs | 4 yrs | 5 yrs |
 |
5.49% | 6.09% | 5.39% | 5.79% | 6.49% | 5.89% |
 |
5.59% | 5.99% | 5.39% | 5.39% | 5.99% | 5.65% |
 |
5.49% | 5.39% | 5.55% | 5.65% | 5.75% | |
 |
5.59% | 5.39% | 5.39% | 5.99% | 5.79% | |
 |
5.99% | 5.99% | 5.39% | 5.59% | 6.39% | 5.65% |
 |
5.59% | 5.49% | 5.39% | 5.59% | 5.75% | 5.79% |
 |
5.29% | 5.29% | 5.29% | 5.29% | 5.29% | |
| SBS Bank | 5.59% | 5.74% | 5.19% | 5.49% | 4.99%* | |
 |
5.70% | 5.80% | 5.35% | 5.60% | 6.40% | 5.85% |
* Members only, otherwise 5.79%
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Mortgage choices involve making a significant financial decision so it often pays to get professional advice. An AMP360 mortgage broker can be contacted by following this link »
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