ASB joins others in raising long-term rates

The steep rise of longer term mortgage rates continues, with ASB raising their fixed mortgage rates for terms three years and greater this morning.

ASB's four year rate is now 7.15 per cent (up 60 basis points) and its five year rate is now 7.25 per cent (up 50 basis points). The three year rate remained under 7 per cent at 6.50 per cent (up 35 basis points).

ASB cousins BankDirect and Sovereign also put up mortgage rates by the same margins.

To read the full NZ Herald story click here

Posted: 26 Mar 2009

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