REAL ESTATE

ASB Leads Reduction In Fixed Home Loan Interest Rates

Monday 8 August 2011, 5:40PM
By ASB
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ASB is responding swiftly to wholesale funding market movements, and reducing its home loan fixed interest rates.

The new rates are effective from tomorrow, Tuesday 9 August. They include a 0.25 percent reduction in the one year rate to 5.90 percent per annum; a 0.30 percent reduction in the 18 month rate to 6.10 percent per annum; and a 0.35 percent reduction in the two year fixed housing rate to 6.30 per cent per annum.

“We are committed to responding in a nimble fashion to wholesale funding market rate movements, therefore providing our customers with highly competitive interest rates on their home loans,” said ASB Chief Executive Customers, Markets and Products, Catherine McGrath.

 

Term

Interest rate

Change

6 months

5.85%

Unchanged

12 months

5.90%

- 0.25%

18 months

6.10%

- 0.30%

2 year 

6.30%

- 0.35%

3 year  

6.70%

- 0.25%

4 year

7.05%

- 0.30%

5 year 

7.40%

- 0.35%