Due to OCR hikes from 3.25% to 3.50%, ASB also increasing its Housing Variable rate.
OCR has been increased by 0.25% today to 3.50%. But there is good news for Mortgage payers as there may not be further increases in near future. The effect of these 4 increases will be assessed and OCR will stay at this level till that point of time. Encouragingly, the economy appears to be adjusting to the monetary policy tightening that has taken place since the start of the year,” Mr Wheeler, Reserve Bank Governor said on Thursday.
Please see the table below for a summary of their housing interest rates which will be effective from Saturday 26 July 2014
ASB is lowering its 3 year and 2 year fixed loan interest rates. It has also announced changes to fixed interest rates. Effective from 5.00pm Friday 2 May 2014.
ASB is also lowering its 3 year fixed housing rate to 6.25% p.a. and reducing their 2 year fixed rate to 6.19%p.a. The 3 year rate is for a limited time only and can be applied to new and existing home lending where there is a minimum of 20% equity. Bank Conditions may apply.
1 year Fixed Interest Rate Special, effective from 11 July 2014
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