Major bank hikes mortgage rates

ASB is the latest bank to raise mortgage rates, citing uncertain global financial markets and increased wholesale rates.

The bank would lift all rates from one year to five years by six to 20 basis points.

"Global financial markets have been volatile, and ongoing geopolitical tensions have driven sustained increases in wholesale interest rates," the bank's executive general manager for personal banking Adam Boyd said.

"These rates underpin lending and deposit pricing in New Zealand and reflect broader trends across international markets as economies navigate the current outlook."

It would also lift term deposit rates for 12, 18, 24 and 48 month terms by between five and 20 basis points.

All of New Zealand's other major banks have lifted mortgage rates in recent weeks.

"We encourage any homeowners feeling uncertain about their position to get in touch," Boyd added.

"There is real value in talking through your options and ensuring your lending structure is working for your circumstances."

One year: Up six basis points to 4.65%

18 months: Up 10 basis points to 4.95%

Two years: Up 16 basis points to 5.25%

Three years: Up 10 basis points 5.49%

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Four years: Up 14 basis points to 5.69%

Five years: Up 20 basis points to 5.89 %