Major bank trims some mortgage rates

January 25, 2024

One of New Zealand's major Australian-owned banks has trimmed some mortgage rates.

ASB has lowered its three-year home loan rate by 10 basis points to 6.65%.

Its four and five-year rates have gone down by 20 basis points to 6.55%.

ASB has also narrowed some of its longer-term deposit rates.

Yesterday Stats NZ revealed annual inflation was 4.7%, its lowest rate in over two years, which is still above the Reserve Bank's target of 1 to 3%.

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